The Croatian government on Wednesday formalised its decision to issue five-year Eurobonds worth US$1.5 billion. The bond issue on the US market was agreed last week during Finance Minister Slavko Linic's visit to the United States.
The government said in a statement that the borrowing was made to meet the budget expenses.
The issue price is 99.472% of the nominal value, the interest coupon is unchangeable at 6.25% annually, with the yield of 6.375%. The settlement date is April 27, 2012 and the maturity date is April 27, 2017. The issue managers are Citigroup Global Markets Limited, Deutsche Bank AG London Branch and J.P. Morgan Securities Ltd. All payments will be converted into euros according to a fixed exchange rate of 1.3110 dollars for 1 euro.
Over 350 potential investors have already expressed their interest in purchasing the Croatian bonds.
