CORPORATE BRIEFS

J.P. Morgan to lead manage SE eurobond issue

Energy utility Slovenské Elektrárne (SE) announced on September 7 that J.P. Morgan would be the chief manager of its upcoming eurobond issue. SE chose J.P. Morgan from among 16 participants in an international tender. The state-owned utility has announced neither the volume nor the date of the planned bond issue.

Slovenské Elektrárne ended the first half of this year with a massive 3.3 billion crown loss, compared with a profit of one billion crowns for the same period in 1998. The result chiefly reflects 1H99 losses from financial operations, which jumped from 0.5 billion crowns in 1998 to 5.4 billion crowns this year because of a rapid fall in the value of the Slovak crown.

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