Bulgarian regulator admits to trade Sever Holding bond issue

The regulator entered the bond into the register of public companies and other issuers of securities, the FSC said in a decision published on Tuesday.

In August, Sever Holding issued 28,000 ordinary, secured, nonconvertible bonds with a nominal value of 1,000 levs each.

The bonds have a floating annual coupon based on the six-month EURIBOR plus 1.25%, but not less than 3.25% and not more than 5.25%. Coupon payments are due semi-annually.

The placement has a maturity of nine years and is due on August 7, 2032.

The funds raised from the bond will go towards acquiring stakes in local companies as well as financial instruments and assets, improving Sever Holding's capital structure and helping restructure and repay the group's liabilities, the company said earlier.

Shares in Sever Holding last traded at 3.20 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)