Gorenje prepares first issue of commercial paper

Slovenia's household appliance maker Gorenje is preparing its first issue of commercial paper as it seeks to diversify financing sources.

- We estimate we could issue paper worth EUR 20-25m - Gorenje chief executive Franjo Bobinac told Saturday's Delo.

- Commercial paper is intended for the short-term balancing of operations, giving us more funding for working capital and reducing our dependence on banks - he said about the forthcoming issue of 8-month paper.

A meeting with prospective investors will be held April 10th, and Bobinac said their interest was "in line with expectations."