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Financial regulator OKs N. Macedonia's TTK Banka bond prospectus

Author Mario Tanev
Financial regulator OKs N. Macedonia's TTK Banka bond prospectus Photo: TTK Banka / All rights reserved.

SKOPJE (North Macedonia), December 6 (SeeNews) - North Macedonia-based lender TTK Banka [MSE:TTK] said that the financial regulator has approved its prospectus for a new bond issue. 

The lender did not provide further details in its statement.

In November, TTK Banka's shareholders approved the company's plan to seek to place a 1.5 million euro ($1.7 million) bond issue with a fixed annual coupon of 2.7%. The issue will be considered successful if investors subscribe for at least 60% of the offered bonds. 

TTK Banka will use the proceeds to strengthen its overall capital position, it said at the time.

Last year, TTK Banka placed a 1.5 million euro bond issue.

($ = 0.8929 euro)

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