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)