Slovenian steel group SIJ to list bonds on Ljubljana stock exchange

The move is part of the requirements of the bourse. If the listing is approved the bonds will start trading on December 29.

SIJ placed the five-year bonds bearing an annual interest of 4.5% on November 24. The proceeds will be used for diversifying the company's long-term financing and ensuring the optimum liquidity for its development strategy until 2020, the company said.

SIJ together with its subsidiarie specializes in the production of steel sheet, construction steel and industrial knives and tools. The group posted a net profit of 25.5 million euro in the first nine months of 2014 and a revenue of 561.2 million euro, up by 9% from a year earlier. In 2014 it plans to post a net profit of more than 30 million euro.

The group is 72.2% owned by Dutch-registered Dilon Cooperatief, held by the Zubitskiy family, which also controls Russia’s industrial metallurgic holding OAO KOKS. The other major holder is Slovenia, with a 25% stake.

($=0.8211 euro)