October 4 (SeeNews) - North Macedonia's TTK Banka [MSE:TTK] said on Friday that it is seeking the approval of its shareholders to issue a 1.5 million euro ($1.64 million) bond at a fixed annual interest rate of 2.7%.
TTK Banka will use the proceeds to strengthen its overall capital position, the lender said in a bourse fiing.
The bank will offer for subscription 1,500 bonds with a nominal value of 1,000 euro each.
The issue will be considered successful if investors subscribe for at least 60% of the offered bonds.
TTK Banka shareholders will vote on the proposal at a meeting scheduled for November 5.
Earlier this year, TTK Banka placed a 1.5 million euro bond.
($ = 0.9120 euro)