A total of 97 buyers, mostly asset managers, purchased the issue, which has annual interest of 3.85% and is due on 10 October 2019, Gorenje said. The paper will be listed on the Ljubljana Stock Exchange.

Gorenje decided to tap the bond market in order to diversify its financing sources. CEO Franjo Bobinac was quoted as saying in a company press release that the bond would "improve the company's financial picture".

The Velenje-based Gorenje is the latest blue chip to tap the bond market to overcome the continued credit crunch. In June the energy group Petrol issued a EUR 265m bond.