A forthcoming project finance bond from Croatia is set to broaden the investor base for high-yield debt issuance, and could open the door for further deals in the country and elsewhere in Central and Eastern Europe.

UBS Warburg will hold roadshows next week for the bond, which aims to raise up to €210m ($223m) to finance the Bina-Istra toll road project in Croatia. Proceeds will refinance the bank debt that funded the construction of the completed first phase of the toll road and will partly refinance the second phase, due to begin in March.