Croatia, HANFA has approved a prospectus of oil company INA for a domestic bond issue

, SEE Energy News

Croatian financial regulator HANFA has approved a prospectus of oil company INA for a domestic bond issue with a total nominal value of 266 million euros, with one-off principal maturity after five years.

The statement from INA said that the bonds will have a par value of 133 million euros each and will bear a fixed interest rate. INA’s Management Board approved the issuance of bonds and their listing on the Zagreb Stock Exchange on 15 September.

INA hired Erste & Steiermarkische Bank, Privredna Banka Zagreb and Raiffeisenbank Austria as the issue agent.

INA recorded a net profit in the amount of 146 million euros in the first nine months of 2021, compared to a net loss of 141 million euros in the same period last year. EBITDA of INA Group for the first nine months of 2021 amounted to 308 million euros. Exploration and Production business is the main contributor to the results with EBITDA of over 214 million euros, which represents an increase driven by improved average realized hydrocarbon price level of 58 dollars/barrel. Still, natural production decline continues across the asset base. Refining and Marketing including Consumer services and Retail results reached 134 million euros on the back of a better than expected tourist season.