BA-CA´s Splitska Banka successfully placed the first five-year kuna government bond
- 1bn kuna sold to international and national investors.
- First bond in this maturity segment.
- Splitska Banka acting as lead manager.
Croatia’s first five-year government bond has been successfully sold to international and national investors this week. The Croatian Ministry of Finance had mandated Splitska Banka, together with Rijecka Banka, to act as lead manager. Investors’ demand exceeded the offer by far. The issue with a volume of one billion Kuna (the equivalent of about EUR 130 million) and a half-year coupon of 6,125% represents the first kuna-denominated bond in this maturity segment. It extends the Croatian yield curve beyond the current one-year horizon.
“This bond paves the way for the further development of the Croatian financial market. It doubtlessly will serve as a benchmark for future issues”, stated Mr. Peter Harold, Board Member of Splitska Banka.
Splitska Banka is the third largest Croatian bank and operates a network of about 80 branch offices. By end of June Splitska Banka will be merged with HVB Croatia, the second Croatian subsidiary of Bank Austria Creditanstalt. Within HVB Group, Bank Austria Creditanstalt is in charge of the Central and Eastern European business.
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