January 19 (SeeNews) - Slovenian white goods manufacturer Gorenje [LJE:GRVG] said on Friday it is planning a sixth issue of commercial paper, with an interest accrual date of February 1, 2018 and a maturity date of December 21, 2018.
Gorenje will use the raised funds for the diversification of short-term financing, primarily to finance seasonal operations in accordance with the interim cash flow dynamics, and optimisation of funding costs, the company said in a Ljubljana bourse filing.
Details on the issue will be made known following a meeting with potential investors on January 19.
The offering will be managed by Alta Invest.
In November, Gorenje appointed Rothschild S.p.A., Italy, as its financial advisor in its search for a strategic partner. Gorenje hopes that with the help of a strategic partner it can pursue the growth of business, strengthen brand power, access prime distribution channels, accelerate product innovation and business digitalisation.
In November 2016, Japan's Panasonic decided not to increase its stake of 10.74% in Gorenje.
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