The move was billed yesterday by the manager of state assets as the biggest Slovenian corporate bond of recent years.

The money raised will be used for refinancing of existing liabilities and shore up the long-term financial stability of the holding, chairman Matej Pirc said in a statement.

"As a result the costs of financing for this year and the next will be reduced," added Pirc.

The issue managed by investment firm Alta Group and the NLB bank was offered at home and abroad, the holding said without providing information on the buyers.

The 100,000 bonds at EUR 1,000 apiece will fall are due on 24 June 2020, while interest will be paid annually on 24 June.

The bond is due for listing on the Ljubljana Stock Exchange following approval from the Securities Market Agency.