Bulgarian Development Bank places EUR 20mn bond.

By bne IntelliNews May 19, 2010
State-owned Bulgarian Development Bank (BDB) issued EUR 20mn unsecured bonds with a 5% coupon, the lender said on its website. The bonds will mature in five years. The funds will be used for the financing of new and the refinancing of existing infrastructure projects in the areas of renewable energy and processing of solid household waste. Raiffeisenbank Bulgaria was the lead manager of the issue. The bonds have been offered to institutional investors but BDB said it planned to register them for secondary trading on the local stock exchange. The lender ranked sixteenth-largest in terms of assets as of end-March. It specialises in loans for the small and medium sized enterprises which face difficulties to obtain private financing.

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