Bosnia's Zvornik municipality to issue EUR 1.5mn bonds on Banja Luka bourse.

By bne IntelliNews April 20, 2011
The Zvornik municipality, in the Serb Republic, decided to sell KM 3mn (EUR 1.5mn) worth of municipal bonds on the Banja Luka Stock Exchange (BLSE) to finance infrastructure projects, Onasa newswire reported, quoting mayor Zoran Stevanovic. The 10-year bonds bear an annual coupon of 6.75%. They are to be listed on the BLSE official market. The municipality will use the raised funds for the reconstruction and the upgrade of a recreational sports centre (KM 1mn), a water source in Kiseljak (KM 0.2mn), Kiseljak road upgrade (KM 0.6mn), purchase of land plot for parking facility construction (KM 0.4mn), street lighting (KM 0.4mn) and partial reconstruction of medieval town Djurdjev (KM 0.4mn). The first municipal bond issue in RS was launched three years ago. So far, 12 municipalities - Banja Luka, Laktasi, Srbac, Gradiska, Samac, Bijeljina, Istocni Stari Grad, Brod, Kotor Varos, Lopare, Novi Grad and Tesanj have issued municipal bonds to finance their investment projects.
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