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Croatia preparing to issue 10-year dollar bond

Autor: mses
LONDON/ZAGREB, July 6 (Hina) - Croatia on Tuesday announced that it had entrusted Citi, JPMorgan and Barclays with a task to arrange the issuance of "a 10-year dollar bond," the Reuters IFR service reported on Tuesday.

Croatia expects the bond to carry a yield of around 6.75 percent according to market speculations, fund managers told Reuters.

The bond is likely to be launched later in the day,

According to sources from London and Zagreb, the proceeds will be used to cover the planned budget deficit this year in the amount of HRK 8.6 billion ($1.59 billion), "amid underperforming revenues and the government's reluctance to enforce deep spending cuts."

(Hina) ms

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