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. Last Updated: 07/27/2016

New Czech Bonds Issue

PRAGUE -- The largest Czech commercial bank, Komercni Banka, said Wednesday it plans to offer three billion crowns ($108 million) worth of seven-year domestic bonds in the first longer-term Czech debt offering after a summer barrage of three-year notes.

"We are preparing the first issue. It will be three billion crowns in domestic bonds, seven years," Komercni's general manager, Borivoj Prazak said.

He said that the placement would come later this year.

Prazak said that Komercni was planning the longer-term issue because of favorable conditions on the Czech debt markets.

"We feel there is a positive development of the market," he said.

The Czech bond market has been awash with new paper in recent months, as more than a dozen new issues have come to the market.