November 11 (SeeNews) - Slovenian steel manufacturer Slovenska Industrija Jekla (SIJ) is considering a commercial paper issue to optimise financing costs and diversify short-term financing sources, the company said on Friday.
SIJ will launch a pre-sale procedure on the capital market and the commercial papers are planned to be issued in the first half of December 2021, depending on investor interest, the steel manufacturer said in a filing with the Ljubljana Stock Exchange.
The company authorised Nova Ljubljanska Banka (NLB) to assess investor interest and provide investment services.
In December 2021, SIJ sold 30 million euro ($31 million) worth of one-year commercial papers. The securities were sold at an annual interest rate of 0.95% and will mature on December 10, 2022.
SIJ is the largest vertically integrated metallurgical group in Slovenia. Its products hold leading positions on European and global niche steel markets.
($ = 0.96992 euro)