Croatia, HEP has successfully repaid a 550 million dollars Eurobond issued back in 2015

, SEE Energy News

Croatian state-owned power utility HEP said that it has successfully repaid a 550 million dollars Eurobond issued back in 2015.

The statement from the company said that the seven-year bond was issued at a yield of 6.125 % and carried a coupon of 5.875 %, with principal payable at maturity in 2022.

HEP took advantage of record-low interest rates in 2021 and favorable price of financing in 2020 to agree loan deals under favorable terms, which it used alongside its own funds to completely repay the bond. The new loans have fixed annual interest rates of 0.42 and 0.62 %, respectively.