JUNE 30 2009 16:00h
Owners of commercial bills of the Croatian Post will be able to exchange them for newly issued bonds covered by the Croatian Postal Bank.
On July 1, the Croatian Post will issue corporative bonds in the amount of 28 million euros through a public offer in which only qualified investors will be able to take part, a statement issued by the Central Clearing Depository Society (SKDD) said.
The decision on issuing the bonds was made on June 16 of this year when the Croatian Post also decided to leave the option for the owners of their commercial bills (HP-M-952A) to exchange them for the newly issued bonds.
According to the SKDD, 62.59 of commercial bills of the Croatian Post are owned by the Croatian Postal Bank (HPB).
The HPB is also the agent and covers the bonds of the Croatian Post and will sent the owners of the commercial bills an offer to exchange them for newly-issued bonds.
The corporative action of issuing the bonds and the exchange of the commercial bills into the bonds who choose to accept it will be implemented at the SKDD on July 1.