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Croatia's Yellow Submarine issues 3 mln euro minibonds

Jun 21, 2024, 2:55:19 PMArticle by Dragana Petrushevska
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June 21 (SeeNews) - Croatia's restaurant chain Yellow Submarine issued 3 million euro ($3.2 million) worth of minibonds, the first securities of this type to be issued in the country, local bank PBZ, who acted as the sole issue agent and investor in the corporate bond issue, said on Friday.

Croatia's Yellow Submarine issues 3 mln euro minibonds
Yellow Submarine. A photo by Yellow Submarine.

The minibonds, issued on June 20, 2024, will mature in 2031, PBZ said in a press release.

"Minibonds provide SMEs with an alternative funding source to traditional bank loans, typically issued by SMEs and traded in specialized segments of the financial market," PBZ said.

Yellow Submarine, a gourmet burger chain with 20 outlets in Croatia, reported revenues of over 15 million euro in 2023.

PBZ is part of the Intesa Sanpaolo Group.

($ = 0.936 euro)

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