Serbia's Kikinda to issue EUR 5.2mn municipal bond for water plant project.

By bne IntelliNews September 21, 2012
Serbia's Kikinda municipality said it plans to issue RSD 600mn (EUR 5.2mn) bond to finance the construction of a drinking water plant. The proposal was adopted by the municipal assembly earlier this week, the municipality said on its website. The bonds would be offered for sale on the domestic market at a 5% interest rate and will have up to six years maturity period. Nenad Grbic, a member of Kikinda's municipal council, said that the municipality will first open a tender for the plant construction and after that launch a second phase, which includes the bonds issue. Kikinda is located in Serbia's northern province of Vojvodina.

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