TNBiz (TNBiz)
Bonds  |  September 20, 2012 12:40:10

Prague councilors approved the issuance of bonds for five billion crowns


PRAGUE (MEDIAFAX) - Representatives of the main city on Thursday gave the green light new bond issue in the amount of € 200 million, which is about five billion crowns. The city plans to pay bond debt from 2003.

Capital assumes that the maturity of bonds shall not exceed ten years. Loan in 2003 was € 170 million and accounted for 4.25 percent interest.

"Prague in a given situation is not the fact that somewhere pulled five billion crowns, and we have no other than a refinance," said councilor and Zdenek Tuma (TOP 09). Can not imagine that it would not support the issuance of councilors and left Prague go bankrupt, "Tuma to criticism of opposition.

Total debt Prague by the end of last year was 25.8 billion. As of June this year, the city debt fell to 25.4 billion crowns.In July, but borrowed capital from the European Investment Bank to metro line A six billion crowns. The total amount of the loan is 8.5 billion for 30 years with a grace period for six years, extends credit line of up to 11 billion. Interest will be approximately two percent, early repayment is possible after 18 years.

Debt capital already increased the amount of 31.4 billion crowns.

Denisa Šindlerová, sindlerova@mediafax.cz

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