SOFIA (Bulgaria), July 7 (SeeNews) – Bulgaria has ordered the payment of 990.4 million euro ($1.1 billion) to the holders of five-year Eurobonds issued at an annual interest coupon of 4.25% and maturing on July 9, the finance ministry said on Friday.
The sum includes 950 million euro principal and the last payable interest coupon of 40.4 million euro, the finance ministry said in a statement.
The funds for the repayment of the maturing paper were raised through the issue of a dual tranche bond in the amount of 1.994 billion euro in March 2016.
The transaction included one tranche of 7-year bonds to the amount of 1.144 billion euro, at interest coupon of 1.875%, and one tranche of 12-year bonds to the amount of 850 million euro, at interest coupon of 3.0%, the ministry said.
After the payment, Bulgaria's government debt has been reduced to 11.934 billion euro, bringing the country’s debt-to-GDP ratio to 24%, from 25.9%.
($ = 0.8762 euro)