In yesterday’s investors’ call, Croatian Ministry of Finance announced that Croatia is to issue new 10Y EUR denominated Eurobond. According to the plans, notional could be up to EUR 1.5bn but that’s to be determined according to investors’ demand (which we expect to be substantial). Regarding pricing, this morning interpolation between CROATI 2028 and CROATI 2030 indicates YTM for the new issue somewhere around 1.35%. Just to put things into perspective, a year ago, EUR 750m of CROATI 2028 was issued with a coupon of 2.70% and YTM of 2.95%.