Fortenova Grupa Approves 4-Year Bond Worth Up to 1.2 Billion Euros

Croatian food company Fortenova Grupa, the Balkan region’s biggest firm by sales, said on Friday that more than 80% of its shareholders had supported the issuance of a four-year bond worth up to 1.2 billion euros ($1.3 billion), Reuters reported. The bond is aimed at financing a 1.1 billion euro liquidity loan the firm, formerly known as Agrokor, took two years ago to avoid bankruptcy, the company said in a statement. That followed an expansion drive based on high and expensive debt. The shareholders - the largest of which is Russia’s Sberbank - approved the move at the company’s general assembly in Amsterdam on Friday. Read more