State guarantee issued to HC road operator

The government on Wednesday okayed a state guarantee to the Hrvatske Ceste (HC) road operator.
The government gave a greenlight to the HC company to take a loan from the Erste&Steiermärkische Bank, Croatian Postal Bank, OTP Bank, Privredna Banka Zagreb, Raiffeisenbank Austria and Zagrebačka Banka, to finance projects and the company business operations in 2022.
This will ensure finances for HC amounting to €115.5 million, increased by interest and fees and allowances. The loan can be used by 31 December this year and has a repayment grace period of three years with an interest rate of 1.15%.
The loan will finance existing loan liabilities amounting to HRK 280 million as well as financing 16 active projects with a total value of HRK 589.3 million.

(€1 = HRK 7.5)

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