Mercator to issue bonds by year's end

by   CIJ News iDesk VII
2020-06-30   10:18

Mercator is preparing to issue bonds to pay off bank loans. According to unofficial information, the procedure is being led by the investment bank JP Morgan, and the bond could be issued by the end of the year. Refinancing is needed because the company's loans from banks come due next year.

Last month, Mercator CEO Tomislav Cizmic revealed that negotiations about the refinancing were underway, with a view to clearing up about €450m in debt.

The Mercator Group made a net profit of € 1.1m in the first quarter of 2020, after posting a net loss of €3.69m for the same period last year. The group increased its annual revenues by 10.8 percent in 2019 to €530.48 m.