March 16 (SeeNews) - Bulgarian real estate investment trust (REIT) Balkan and Sea Properties [BUL:BSP] said on Thursday it plans to change the coupon rate of a 40 million levs ($21.7 million/20.5 million euro) bond issue maturing in 2030.
If the proposed change is approved, the bond will have a floating coupon rate equal to the six-month EURIBOR plus 1%, but not lower than 3.5% and not higher than 5.5%, the company said in a stock exchange filing.
The proposal will be voted on by bondholders at a meeting on April 3. If approved, the new coupon rate will become effective after April 27.
The bond was issued in October 2021 with a floating rate equal to the six-month EURIBOR plus 3.00% but not less than 2.80%. According to bourse data, the coupon rate currently stands at 5.132%. The bond will mature on October 27, 2030.
(1 euro = 1.95583 levs)