Spectator on facebook

Spectator on facebook

CORPORATE NEWS

JP Morgan sets second loan to Vodohosp. Výstavba

Vodohospodárska Výstavba, a state-run water dam construction company located in Bratislava, is introducing a 10-year Eurobond issue worth $200 million (6 billion Sk), officials from JP Morgan, the bond's principal issuer, announced.

The bond's annual yield is set at 1.15 percent above the yield of 10-year US government bonds, which is currently 6.5 percent. The issue, which matures on December 19, 2006, will be traded on the Luxembourg Stock Exchange and is fully backed by the Slovak government.

The bond carries a Standard & Poor's rating of BBB-, equal to the rating of long-term Slovak government loan liabilities. Capital raised from the bond issue will go to completing construction of the hydroelectric power plant at Gabčíkovo and to construct new dams along the Váh River near the north Slovak city of Žilina. The issue is the second tranche of a loan totalling $500 million (15 billion Sk) agreed upon by officials at JP Morgan and Vodohospodárska Výstavba.

Top stories

Kysuce highway stalled due to missing money

Money is missing to finish the section of highway between Žilina and Poland, stopping the completion of the D3 highway project.

Road-blocking protest in Povina, Kysuce, demanding completion of highway bypass - February 16.

Slovak film won Generation Kplus section at Berlinale

The film Little Harbour that won the Crystal Bear – beating movies from many other countries - is the work of (mostly) Slovak women.

Director of Little Harbour, Iveta Grófová, with the Cristal Bear

State insulation falls behind expectations, ministry widens support

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the insulation programme.

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the state insulation programme. Illustration stock photo

US philosopher with Slovak roots, Michael Novak, dies

The man who advised politicians and even presidents Gerald Ford and James Carter died on February 17, aged 83.

Michael Novak