Mercator owes EUR 20 million

The company Mercator has issued commercial papers in the value of EUR 20 million, which is 90% more than the target amount. These are one-year commercial papers with an interest rate of 1.75%.

The purpose of the papers is to solve liquidity problems, finance the working capital, and the dispersion of the financing sources, the Mercator announcement reported in the media says.

Mercator, which is owned by the Croatian Agrokor, had a sales income of EUR 605 million in the first three months and made a profit of EUR 2.3 million. Relative to the same period last year, Mercator’s income decreased by 3.8% and its profit by 44%, which is the result of increased investments.