Invest in Bulgaria - The Preferred Partner of Investors Seeking Opportunities in Bulgaria
GUGUSHEV & PARTNERS is among the leaders on the Bulgarian legal market Comprehensive Organization of MBA and EMBA Study Trips in Bulgaria
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)
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)

Eurobond Float Keeps Investors Coming Back
Date: 09/07/2012
Eurobond Float Keeps Investors Coming Back

Ten years after Bulgaria last appeared on the international capital market, the country made a successful comeback, but the biggest test is yet to come, according to analysts.

Bulgaria could have achieved an even better interest rate, but deliberately underestimated its prospects to please investors and lure them to subsequent issues, according to sources, cited by the local media.

Bulgaria tapped last week 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 next tranche however is due in 2015 and Sofia may be forced to go to the markets again.

"That's why it is important that foreign investors are happy now, so that subsequent issues are welcome. This is an investment in Bulgaria's positive image," an unnamed investment banker told Capital daily.

A week ahead of the Eurobond issue, Bulgaria's finance minister Simeon Djankov and central bank deputy governor Kalin Hristov launched a series of investor meetings across Europe, including some of the major players on the debt market.

A quarter of the bonds were purchased by British financial institutions, followed by those from Germany - 17%, according to data by the finance ministry.

Nine percent were acquired by Asian investors. Almost fifty percent of the bonds in the new issue went into the hands of investment funds, while 6% - at central banks.

Interestingly, the bond issue will mature in the summer of 2017, when the country will hold general parliamentary elections. But experts say this is just a coincidence, not a deliberately sought result.

Topic: Financial

Featured District
Invest Bulgaria Charts
Gross Domestic Product of Bulgaria per Capita
Gross Domestic Product of Bulgaria per Capita

Private Sector External Debt of Bulgaria
Private Sector External Debt of Bulgaria

See all charts
Did You Know?
Every year on the 1st of March, Bulgarians give each other 'martenitsas' - small figures made of ... More

Gena Dimitrova is reputed to possess one of the most prestigious voices ever, one of the few dramatic sopranos of the past 30 years, belonging to that class of artists who have tackled with disarming ease the most demanding of the heavyweight roles. Her voice blends an inherent lyrical beauty, superbly sustained by the refined technique of a soprano leggero with an impressive dynamic range culminating in an intensely powerful volume.

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

Bulgaria Translation - Full service Bulgarian Translation company

© Copyright 2004-2022 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 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