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Croatia’s JGL mulls new bond issuance

Jun 20, 2024, 2:36:24 PMArticle by Annie Tsoneva
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June 20 (SeeNews) - Croatian pharmaceuticals producer Jadran Galenski Laboratorij (JGL) [ZSE:3JDG2] said on Thursday that it is considering issuing new corporate bonds on the domestic debt market.

Croatia’s JGL mulls new bond issuance
JGL completed on September 22, 2023 a 53 million euro investment project INTEGRA. Source: JGL

The proceeds would be used to cover the repayment of the company’s existing five-year bond with a total nominal amount of 130 million kuna ($18.5 million/17.3 million euro), which matures on December 18, as well as for other corporate needs, JGL said in a filing to the Zagreb bourse.

JGL has hired Erste&Steiermaerkische Bank, the local unit of Austria's Erste Bank, and the local arm of Italy’s Intesa, Privredna Banka Zagreb, as joint issue agents.

Founded in 1991, JGL is one of the largest drug makers in Croatia, specialising in the production of sterile nose, eye and ear drop solutions. JGL operates in some 60 markets around the world.

($ = 0.932 euro)

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