January 19 (SeeNews) - Serbian lender Komercijalna Banka [BEL:KMBN] has won a tender for extending a loan for the refinancing of 17.2 million euro ($18.3 million) debt of the autonomous region of Vojvodina.
The tender attracted six bidders as the offer of Komercijalna Banka, which proposed to provide the funds at an interest rate of 1.68%, was the most attractive, the Vojvodina government said in a statement on Wednesday.
The overall savings achieved through the loan will stand at 2.6 million euro and the refinancing will allow Vojvodina government to use budgetary funds for capital projects, instead of repaying debt.
Komercijalna Banka shares traded 2.10% higher at 1,749 dinars on the Belgrade bourse by 12:02 CET on Thursday.
($ = 0.9374 euro)