ZAGREB: Croatia issued a three-year, euro-denominated domestic bond worth 500 million euros ($573.60 million) and a second tranche of an 11-year kuna-denominated local bond worth 5 billion kuna ($774.21 million), one of the arrangers said on Friday.
The three-year bond has a yield to maturity of 0.66 percent; the kuna bond has a yield to maturity of 2.41 percent.
The subscription of around 1 billion euros and more than 11 billion kuna respectively strongly surpassed the original target which was set at 6 billion kuna for both issues.
The first tranche of the 11-year bond, which matures on July 9, 2029, was also worth 5 billion kuna.
The three-year euro bond matures on Feb. 5, 2022.
With the two bonds, Croatia is believed to have largely satisfied its borrowing needs until November, when it has to refinance a 15-year domestic bond worth 1 billion euros and a 10-year international bond worth $1.5 billion.
In the meantime, the finance ministry has to refinance maturing treasury bills which have up to one year maturity.
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