Tigar completed second issue of long-term bonds

Tigar has finished the second issue of long-term bonds in the domestic capital market for familiar, professional investors.

The buyers of the second issue of Tigar's bonds are: KBC Banka, DDOR Osiguranje, Wiener Stadtische Osiguranje, Wiener Re Osiguranje, and Takovo Osiguranje. A total volume of the issue is 83 million dinars, which has made it possible for the first Serbian company on A listing to collect 2.5 million euros through two issues of bonds.

According to Tigar Executive Director Jelena Petkovic, the funds collected from these long-term issues, of which volume and terms are on the level of the projected and expected ones, will be used for financing the further growth of sales and export, primarily in the rubber footwear factory, which registered 60% larger export in the first nine months of the year.

- This is still a relatively new instrument of collecting the funds in the domestic market and, while we were preparing the issue, we analyzed the situation in the whole region and agreed on the most acceptable terms for the issuers from the real sector in both Serbia and its surroundings. In addition to the activities accompanying every issue of securities, it is very important for the company that we used the issue to present our business model and development plans for the maturity period of bonds and that investors practically valorized and expressed a full trust in what we do at Tigar. The established level of corporate management provides an additional guarantee for the buyers of bonds when it comes to regular and transparent reporting on the future activities of the company. Also, the structure of buyers of our bonds speaks in favor of the liquidity of banking and insurance sector and the existence of capacities for further improvement of the domestic capital market - said Ms. Petkovic.