ZAGREB: Combined books for Croatian 12-year and 20-year foreign issues have surpassed 5.5 billion euros ($6.72 billion), IFR financial news service reported on Thursday.

Croatia wants to refinance an international bond worth $1.5 billion that matures on March 24, but also needs funds for covering this year's budgetary needs as the deficit is set at almost 3% of gross domestic product.

The price for the 12-year issue has tightened by some 20 basis points from early morning and is now set at around 115 basis points over the mid-swap. The price for the 20-year issue is now set at mid-swap plus around 145 basis points. Final pricing is expected later on Thursday