The Croatian government said it has given its consent to motorway operator Hrvatske Ceste to borrow EUR 56.5mn from four local lenders for the construction and maintenance of motorways and to cover its 2013 credit obligations. The seven-year loan has to be repaid in equal semi-annual instalments, the first of which is due two years after the signing of the agreement and will have an interest rate equal to six-month Euribor plus 5.6% per annum. Hrvatske Ceste is 100%-owned by the state. The loan is guaranteed by the finance ministry.
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