Bosnian department store Boska completes EUR 7.7mn public bond offering.

By bne IntelliNews September 21, 2011
Banja Luka-based department store Boska has completed its BAM 15mn (EUR 7.7mn) public bond offering, according to a release on the website of the Banja Luka Stock Exchange. The entire issue was subscribed. The offering consisted of 150,000 bonds with a par value of BAM 100 each. This is Boska's first bond issue. The 12-year bonds carry a fixed interest rate of 7% p.a. and were offered for sale at par value. The bonds are secured. The agent of the issue is Balkan Investment Bank Banja Luka. The proceeds will be used for settling existing debts and accounts payable of the company. Boska's existing borrowing is for periods of five to 10 years and is at interest rates in the range 9-12.5%. Boska employs about 150 workers.

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