Bulgarian Private Equity Fund to issue 5.5 mln euro bond

The placement will comprise 5,500 ordinary, secured, freely transferable bonds with an issue price equal to their nominal value of 1,000 euro apiece, BPEF said in a bourse filing on Tuesday.

The bonds will bear a floating coupon rate based on six-month EURIBOR plus 1%, but not lower than 3% and not higher than 5.5%. Coupon payments will be due semi-annually, while the principal will have a two-year grace period.

The issue will be considered successful if it attracts at least 1 million euro. The raised funds will go towards increasing the value of investments and obtaining current income while controlling risk by diversifying the company's portfolio of financial instruments.

Shares in Bulgarian Private Equity Fund last traded on April 12 when they closed at 1.30 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

($ = 0.9401 euro)