Petrol successfully sold the entire issue of bond
Ljubljana, 23rd June, 2009 - Petrol d.d., Ljubljana has successfully concluded the initial sale of ordinary registered bonds of the company, which proves that PETROL has established itself as a highly reliable company in the business environment. The total nominal value of the entire bond issue amounts to EUR 50,000,000.00, at a fixed annual interest rate of 7.57%.
The interest rate has been set at 460 basic points above the five-year benchmark mid-swap rate published on 22nd June 2009, 12 o'clock, at Reuters EURIRS (IRS/ 6-month Euribor) page, as an arithmetic mean between purchase and sale rate amounting to 2.9695 %.
The interest shown in the purchase of bonds was double the offered amount of issue. The highest price offers were accepted - the weighted average accepted price amounted to 100.73% of the nominal value of bonds. Such a great interest of investors and payment of bonds with a premium enabled the reduction of Petrol's financing costs, so that the final mark-up is 442 basic points above the benchmark interest rate.
The purpose of the bond issue was to finance capital investment activity and adjust the balance sheet structure of the Petrol Group. Thus, the financial position of the Petrol Group remains at a high level. By issuing bonds, Petrol also obtained an additional basis, while financial investors confirmed their trust in the company. The issue of bonds was organised and carried out by Nova Ljubljanska banka d.d., Ljubljana.
The issue of bonds was intended particularly for qualified investors on the Slovenian market. Following the initial sale and entry of bond holders in the central registry of KDD, Petrol will obtain necessary approvals, upon which the bonds will be listed on the regulated market of the Ljubljana Stock Exchange.
All additional information regarding the most important characteristics of the bonds is published in the "Announcement of Bond Issue by Petrol d.d., Ljubljana".
The Management Board of Petrol d.d., Ljubljana
The interest rate has been set at 460 basic points above the five-year benchmark mid-swap rate published on 22nd June 2009, 12 o'clock, at Reuters EURIRS (IRS/ 6-month Euribor) page, as an arithmetic mean between purchase and sale rate amounting to 2.9695 %.
The interest shown in the purchase of bonds was double the offered amount of issue. The highest price offers were accepted - the weighted average accepted price amounted to 100.73% of the nominal value of bonds. Such a great interest of investors and payment of bonds with a premium enabled the reduction of Petrol's financing costs, so that the final mark-up is 442 basic points above the benchmark interest rate.
The purpose of the bond issue was to finance capital investment activity and adjust the balance sheet structure of the Petrol Group. Thus, the financial position of the Petrol Group remains at a high level. By issuing bonds, Petrol also obtained an additional basis, while financial investors confirmed their trust in the company. The issue of bonds was organised and carried out by Nova Ljubljanska banka d.d., Ljubljana.
The issue of bonds was intended particularly for qualified investors on the Slovenian market. Following the initial sale and entry of bond holders in the central registry of KDD, Petrol will obtain necessary approvals, upon which the bonds will be listed on the regulated market of the Ljubljana Stock Exchange.
All additional information regarding the most important characteristics of the bonds is published in the "Announcement of Bond Issue by Petrol d.d., Ljubljana".
The Management Board of Petrol d.d., Ljubljana
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