Croatia, INA announced that subscription books for its up to 266 million euros bond issue will be open on December 1

, SEE Energy News

Croatian oil company INA announced that subscription books for its up to 266 million euros bond issue will be open on December 1 from 09:00 to 14:00 local time.

The minimum subscription amount is 130,000 euros. The final price and details of the allocation of the bonds will be announced on 2 December, while the bond issue will be listed on the Zagreb Stock Exchange on 9 December.

INA said earlier that it will use the funds to service debt, finance acquisitions in equipment and facilities, and for new investments.

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.