Description

The Bank has invested a total of EUR 100 million in the seven year EUR 550 million senior unsecured bond issuance by Bulgarian Energy Holding EAD (BEH) of 26 June 2018. BEH placed the bonds on the 21 June 2018 (EUR 400 million) and on 24 July 2018 (EUR 150 million). The bonds started trading on the Euronext Dublin on 28 June 2018 and are expected to start trading on the Bulgarian Stock Exchange in August 2018. The funds will be used to refinance the EUR 500m BEH bond issued by the Company in 2013, which matures in November 2018. The bond will thus support improving the financing structure for BEH, which is the central actor in the Bulgarian energy sector. BEH's long-term stability is fundamental to ensuring the continued progress of Bulgarian energy market reforms.