June 20, 2017 / 11:20 AM / 2 months ago

Croatia's Zagrebacki Holding utility to issue 2nd tranche of 7-yr bond

ZAGREB, June 20 (Reuters) - Croatian utility Zagrebacki Holding said on Tuesday it would issue a second tranche of its seven-year bond next month.

"The second tranche will have a value of up to 500 million kuna ($75.21 million) ... The expected date of the issue is July 3, 2017," Zagrebacki Holding said in a statement.

The first tranche, worth 1.8 billion kuna and yielding 4.35 percent, was issued last July. The bond carries a fixed annual interest rate of 3.875 percent.

Zagrebacki Holding said it would use the issue to refinance a 10-year bond worth 153.7 million euros ($171.4 million) that matures on July 10 and to finance the company's capital projects.

The arrangers are the biggest local banks, Zagrebacka Banka, owned by Italy's UniCredit, and Privredna Banka Zagreb, owned by Italy's Intesa Sanpaolo.

($1 = 6.6484 kuna)

$1 = 0.8968 euros Reporting by Igor Ilic; Editing by Mark Potter

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