Croatia’s Zagrebacki plans to price HRK 1.8 billion seven-year notes

By Susanna Moon

Chicago, June 30 – Zagrebacki Holding doo said it expects to price HRK 1.8 billion of seven-year notes in the first tranche of a new notes issue.

The company plans to issue up to HRK 2.3 billion of new notes to fund its tender offer, with the new notes to be issued in one or more tranches, according to a company announcement.

The notes will be guaranteed by the city of Zagreb.

Privredna banka Zagreb and Zagrebačka banka are the joint managers.

As announced June 30, Zagrebacki is tendering for its €300 million of 5½% notes due 2017 at a purchase price of €1,025 per €1,000 principal amount plus accrued interest.

The tender will run until 11 a.m. ET on July 13, with settlement planned for July 18, subject to a financing condition.

The issuer previously said it aims to reduce the cost of its debt by carrying out the transactions.

Zagrebacki Holding provides municipal services and financing for infrastructure projects for the city of Zagreb, Croatia.

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