Slovenia’s Sava To Issue up to 50 Mln Euro Bond

"The assets the company will acquire through the issue of bonds will be used for balancing the balance sheet structure by maturity," the company said in a statement posted on the website of the Ljubljana Stock Exchange (LJSE) on Monday.

The interest rate will be determined on the basis of a five-year mid swap rate that will be read on the Reuters EURIRS page as an arithmetic average between the buying and the selling rate. The interest rate will be rounded to two decimal points.

"The binding offers for paying in bonds are expected at Abanka Vipa d.d., as our selected bank for the organisation, preparation and execution of the offer of bonds in December 2009," the statement said.

The listing of the Sava bonds on the LJSE is expected to take place in January next year.

No trading data for Sava shares were available by 1240 GMT on Tuesday. The stock ended 3.03% higher on Monday, at an average daily price of 215.88 euro per share.

($ = 0.6656 euro)