Gorenje sells bonds for EUR 73 m

Slovenian producer of household appliances, Velenje-based Gorenje, announced on Friday, October 10, 2014, that it issued five-year bonds totaling EUR 73 m, thus exceeding previous bonds placement totaling EUR 50 m due to big investors’ interest.

Bonds were offered to investors in Slovenia and EU, and 97 investors bought them, Gorenje published on Friday at internet pages of Ljubljana stock market.

The company stated that the funds generated through bonds sales will be used to strengthen structure of maturity of current loans and for diversification of Gorenje’s funding sources.

One of the most successful Slovenian exporting companies has an annual profit of over EUR 1 billion and it increased it for 1, 8%, generating EUR 3, 1 m of profit.

Business activities have stabilized after reallocation of some production products abroad (Sweden, Serbia) and early this year it issued also EUR 35 m of commercial securities in order to stabilize financial business and refunding of total debt totaling EUR 405 m.

This year, Gorenje generated export growth in Germany, Russia, Bulgaria, Romania, Great Britain, North America, the Czech Republic and Slovakia.