SOFIA (Bulgaria), August 24 (SeeNews) – Bulgaria’s leading investment bank [BUL:FIB]or Fibank, said it issued a 10 million euro ($9.95 million) bond through a private placement, as part of its ongoing one-year bond issuance program with a maximum value of 100 million euros.
The debt security, which has attracted strong investor interest, is the first tranche of the program’s second round, the fourth tranche overall since the start of bond issuance, Fibank said in a stock market filing on Tuesday. .
The latest issue of perpetual, non-cumulative, unsecured, super-subordinated and non-convertible bonds brings total placements under the program, which began late last year, to €40 million.
The tap issue, or additional placement on the same terms as the previous ones, meets the additional Tier 1 capital requirements and is listed on the regulated market of the Luxembourg Stock Exchange, in the same way as the previous tranches.
Selling bonds will allow the lender to optimize spending, he added. The funds raised will be allocated to the bank’s long-term credit strategy for small and medium-sized enterprises (SMEs) and individuals as well as to replace the instruments indicated in the bond issuance program, when possible.
The lender made its third bond placement under the program in May, raising some 2.87 million euros. This was preceded by two other tranches, of 10 million and 17.1 million euros respectively, placed between the end of December 2021 and the beginning of January 2022. The bonds have a fixed annual interest rate of 8% and no date of final maturity.
($ = 1.00470 euros)
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