October 18 (SeeNews) - Slovenian steel producer Slovenska Industrija Jekla (SIJ) has invited investors to subscribe for a sustainable bond issue planned in the amount of up to 30 million euro ($32 million).
The securities will be issued at a fixed annual coupon interest rate of 7.0%, SIJ said in a statement earlier this week.
The principal of sustainable bonds will be due for payment in a single amount three years after the issue date and the nominal value of each paper will be 100,000 euro, SIJ said.
SIJ plans to issue the bonds at the beginning of November, with the final amount to be sold depending on investor demand.
On October 4, SIJ launched a pre-sale procedure on the capital market to examine the possibility of issuing new securities upon maturity of its SIJ7 bonds, with the aim of diversifying its long-term sources of financing, financing long-term investments in production technology and increasing energy efficiency.
SIJ Group is the largest vertically integrated steel producer in Slovenia and a leading exporter with a strong presence in 68 countries in Europe, North America, South America, Asia, Africa and the Middle East.
($ = 0.94938 euro)