July 2 (SeeNews) - Bulgarian real estate investment trust Bulland Investments REIT [BSE:5BD] said that its shareholders have approved the company’s plan to issue a ten-year 10 million euro ($11.3 million) secured bond.
Bulland Investments REIT intends to use the bond proceeds to finance the acquisition of investment real estate properties, the company said on Monday.
The issue, comprising 10,000 bonds, will carry a fixed annual coupon of 4.75% with payments due semi-annually.
The issue will be considered successful if investors subscribe for at least 80% of the offered bonds.
Bulland Investments REIT intends to list the bonds on a regulated market within six months of their issuance.
($ = 0.8822 euro)