Tigar issues third tranche of long-term bonds worth RSD 90 million

Pirot-based Tigar AD, the first company listed on the Belgrade Stock Exchange, has issued the third tranche of long-term bonds for selected buyers.

After last year's two tranches of corporate bonds, worth a total of 250 million dinars, the Pirot-based holding has recently successfully issued the third tranche intended for professional investors. The buyers of Tigar's bonds are KBC and Jubmes Banka, insurance companies DDOR and Takovo, and Wiener Re – reinsurance company.

The issued bonds are worth RSD 90 million, with the FX return of 9 percent on annual basis. Their maturity period is four years. During the first year, only the interest will be paid every three months. Upon the expiration of that period, the value of the annuity will include both interest and part of the principal.

People at the company in Pirot stress that the aim of the issuance of corporate bonds is to provide permanent working capital for the full season at plants Tigar Obuca (Tigar Footwear) and Tigar Tehnicka Guma (Tigar Technical Rubber), as well as support to the implementation of the company's development plans.

Tigar's footwear factory plans to double its last year's exports, while the factory of technical rubber has laid recycled rubber on nearly 10,000 square meters of sports fields since the beginning of the summer season.