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Croatia’s Zagrebacki plans HRK 500 million add-on to 3 7/8% notes
New York, June 20 – Zagrebacki Holding doo intends to sell a HRK 500 million add-on to its HRK 1.8 billion of 3 7/8% notes due 2023, according to an announcement from the issuer.
Privredna banka Zagreb dd and Zagrebacka bank will be managers for the add-on. They also managed the original issue.
Proceeds will be used to repay at maturity Zagrebacki’s €153.7 million of 5½% notes due July 10, 2017.
Settlement of the add-on is planned for July 3.
Zagrebacki priced the HRK 1.8 billion of existing notes on July 13, 2016, selling them at 97.186 to yield 4.35%.
The notes are guaranteed by the city of Zagreb.
Zagrebacki Holding provides municipal services and financing for infrastructure projects for the city of Zagreb, Croatia.
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