December 9 (SeeNews) - The Bulgarian-American Credit Bank (BACB) said on Wednesday it has issued three-year bonds worth 15 million euro ($22.2 million) to refinance maturing debt and to finance its credit portfolio.
The bonds mature on December 7, 2012 and bear a 7.5% fixed coupon, due semi-annually. The issue is backed by mortgage-secured loans, BACB said in a statement.
This is the seventh bonds issue of the bank.
BACB, 49.9%-owned by Allied Irish Banks, posted a consolidated net profit of 23.9 million levs ($18 million/12.2 million euro) in the first nine months of 2009, down 46% on the year. It was the 17th largest bank in terms of assets in Bulgaria at the end of September, according to the latest available data.
The bank stock, which is part of the blue-chip SOFIX index on the bourse in Sofia, was traded 1.1% down at 17.4 levs per share by 1045 GMT on Wednesday.
(1 euro=1.95583 Bulgarian levs)
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