Invest in Bulgaria - The Preferred Partner of Investors Seeking Opportunities in Bulgaria
Follow:
GUGUSHEV & PARTNERS is among the leaders on the Bulgarian legal market Comprehensive Organization of MBA and EMBA Study Trips in Bulgaria
NEWS BY TOPIC
FDI in Bulgaria (13)
Health (4)
Macroeconomic Data (49)
Business (361)
Investments (155)
Infrastructure (97)
Financial (126)
Economy (350)
Construction (14)
Politics (62)
Real Estate (27)
Interesting Facts (24)
Sports (10)
NEWS BY SECTOR
Software and Information Technology (28)
Real Estate (56)
Tourism (112)
Waste Management (9)
Automotive (23)
Electronics (3)
General (81)
Renewable Energy (66)
Agriculture (22)
Construction (90)
Food and Beverage (20)
Textile (2)

Bulgaria Starts Investor Meetings ahead of Eurobond Float
BULGARIA STARTS INVESTOR MEETINGS AHEAD OF EUROBOND FLOAT
Date: 24/06/2012
Source: novinite.com
Bulgaria Starts Investor Meetings ahead of Eurobond Float

Bulgaria starts on June 25 a series of investor meetings across Europe ahead of the eurobond issue that the country plans to float this year, one of the banks organizing the meetings said.

Bulgaria's parliament ratified at the beginning of June contracts with BNP Paribas, HSBC and Raiffeisen as mediators for the eurobond issue. The three banks will organize the meetings with investors.

Bulgaria plans to tap international markets to raise funds to repay the first tranche of about EUR 835 M (USD 1.07 B) in 11-year eurobonds maturing on January 15, 2013.

The bonds offered on international markets will be worth up to EUR 950 M.

The interest rate will range between BGN 8-12 M per month, Finance Minister Simeon Djankov explained.

"That's why we decided to start in the spring. The second tranche matures at the beginning of 2015, so the next government will be in the same situation that we are now," he added.

BNP Paribas, HSBC and Raiffeisen have been appointed to advise the Bulgarian state as well as manage the sale of the bond.

Bulgaria is likely to issue its five-year sovereign eurobond on better terms than the country's foray into international capital markets back in 2002, according to analysts.

The Balkan country expects the interest rate - or yield - that it would have to pay on this new five-year bonds to be 5.5%, 2% lower than the 11-year eurobonds issue maturing on January 15, 2013.

According to unconfirmed information Finance Minister Simeon Djankov has decided to go for a five-year maturity partly because of the low indicative prices that the three financial institutions offered - less than a 4% yield - on bonds with that maturity.


Topic: Financial



Featured District
GABROVO DISTRICT AND CITY INFORMATIONGabrovo
Invest Bulgaria Charts
Tax Revenue of Bulgaria
Tax Revenue of Bulgaria

Final Consumption of Bulgaria
Final Consumption of Bulgaria

See all charts
Did You Know?
Bansko
Bansko
The Bulgarian winter resort of Bansko has become on of the hottest skiing destination in Europe ... More

Rila Monastery was founded in 10 century by St. Ivan of Rila. It is the greatest Bulgarian monastery - unique architecture, exquisite wall paintings, brilliant iconostasis, a rich collection of icons and old manuscripts - a true masterpiece of the National Revival Period. Under UNESCO's protection, Rila Monastery is one of Bulgaria's biggest sanctuaries.

Intelligence Pathways - Outsource your Business, Competitive Intelligence or Back Office to Bulgaria

Bulgaria Translation - Full service Bulgarian Translation company

© Copyright 2004-2021 Invest Bulgaria Group Ltd, Sofia, Bulgaria. All rights reserved.

 
Please read Conditions of Use, Copyright Statement and Privacy Policy for this web page and web site.


Лимузини под наем Electric and Hybrid Modules Repair SEO оптимизация Bulgaria Translation Bulgarian Agriculture
Bulgarian Textile BestFlowers.bg Sofia Web Works Bulgarian Coins Intelligence Pathways Bulgarian Outsourcing

Crafted by Sofia Web Works. Maintained by Website Maintenance, the kings of Website Migration.


Our Featured Members