Croatia's Pliva to sell €75 million bonds due 2011

By Reshmi Basu

New York, April 23 - Pliva dd said it will issue a €75 million fixed-rate bond due 2011on the Croatian market on May 12.

A roadshow will take place in Croatia to domestic investors only.

On May 10, the bond yield will be determined based on a seven-year euro interest rate swap plus a premium that will reflect credit risk of the issuer and the current situation on the Croatian capital market.

While the bond is euro-denominated, the settlement of interest and principal will be in Croatian Kuna based on the mid-exchange rate of the Croatian National Bank on the settlement date.

Proceeds will be used for general corporate purposes.

Privredna Banka Zagreb, Raiffeisenbank Austria Zagreb and Zagrebacka Banks are the bookrunners. Intercapital Securities is the listing agent.

The issue will be listed on the Zagreb Stock Exchange.

Zagreb, Croatia-based Pliva is an integrated pharmaceutical company.

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