Bulgaria's BEH places €400mn Eurobond

Bulgaria's BEH places €400mn Eurobond
BEH's portfolio includes Bulgargaz, Bulgaria's public supplier of natural gas.
By bne IntelliNews June 25, 2018

State-owned energy firm Bulgarian Energy Holding (BEH) said it has successfully placed a €400mn seven-year Eurobond that will be listed on the Irish Stock Exchange.

In May, BEH said that had picked Citigroup as sole global coordinator for its plans to refinance its €500mn Eurobond maturing in November. That bond carries an annual coupon of 4.25% with coupon payment due once a year. The issue was listed on the Irish Stock Exchange in November 2013.

Now the third issue has been placed at an annual interest rate of 3.5%, the lowest one since the company has been participating in the international financial markets. At the same time, the achieved seven-year maturity is the longest attained so far, BEH said in a statement.

The company’s other five-year issue due in 2021 carries a fixed annual coupon of 4.875%.

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