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SOFIA (Bulgaria), November 22 (SeeNews) – Bulgaria’s Financial Supervision Commission said it has approved a prospectus of car battery manufacturer Monbat [BUL:5MB] for the issuance of seven-year corporate bonds worth up to 30 million euro ($35.4 million).
The company intends to issue up to 30,000 bonds with a nominal value of 1,000 euro each, equal to their sale price, the financial regulator said in a statement on Tuesday.
The issue will bear an annual interest rate equal to six-month EURIBOR plus allowance of 300 basis points, but not less than 3.0%, with coupon payments due semi-annually.
The bonds will be redeemed in three instalments of 20%, 30% and 50% of the nominal value of the issue at the end of the fifth, sixth and seventh year, respectively.
($ = 0.8470 euro)