The issuing of corporate bonds of the Podravka Group

The Supervisory Board of the Podravka Group approved Podravka’s Management Board’s decision on the issuing of corporate bonds. The bond issue amounted to EUR 27 million, and the bonds were issued with a 3-year maturity. The Organisers, Agents and Sponsors of the bond issue were Privredna Banka Zagreb d.d. and Zagrebačka Banka d.d. Zagreb, which will also sponsor the listing of the bonds in the 1st quotation of the Zagreb Stock Exchange.

The bond issue will refinance the short-term loan which was used to redeem the preferential shares of the European Bank of Reconstruction and Development, and this will markedly improve the Podravka Group’s existing debt structure.

Along with Podravka’s very successful performance in the capital market through commercial papers, the bond issue will help Podravka widen and strengthen the circle of existing investors, free up the limits for short-term financing with banks, leave behind standard banking credit lines, etc.