Paper mill SCP to issue bonds worth 300m Sk

Slovakia's largest pulp and paper producer, SCP Ružomberok, said last month that its shareholders had approved a two-year bond issue worth 300 million Sk ($8.6 million). "The bonds will be issued this year and their maturity will be two years," the SCP statement said. Funds from the bond issue should help SCP cover investment and operational financing as well as restructure its credit portfolio. The June 16 AGM also approved a plan to invest the entire 1997 net profit into the company's development. The unconsolidated net profit totalled 119.4 million Sk last year, almost unchanged from the 119.9 million in 1996.