Croatia, INA has set the issue price of its 266 million euros bond at at 99.445 %.

, SEE Energy News

Croatian oil company INA said that it has set the issue price of its 266 million euros bond at at 99.445 %.

The statement from the company said that the bond yields 0.989 %, and its fixed interest rate is 0.875 %. The total allocated nominal amount of the bond is at the initially set upper range for the issue. The bond has semi-annual interest payments and one-off maturity of the principal after five years.

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.