March 17 (SeeNews) - Bulgarian diversified group Chernomorski Holding [BUL:CHL] decided to place a nine-year bond issue worth 11 million euro ($11.65 million), it said.
The ordinary, secured, transferable, non-convertible bonds will have a floating semi-annual coupon equal to the six-month Euribor plus 1.00%, but not lower than 2.50% and not higher than 5.00%, Chernomorski Holding said in a bourse filing on Thursday.
The placement will consist of 11,000 bonds with an issue price equal to their par value of 1,000 euro each.
The issue will be considered successful if it attracts at least 5 million euro. The raised funds will go towards financing acquisitions, restructuring the company's shareholdings and liabilities, as well as increasing its financial assets.
Chernomorski Holding said earlier this week that on April 18 it would seek the approval of its shareholders to increase its capital to up to 30 million levs ($16.25 million/15.34 million euro) and issue bonds worth up to 100 million levs.
Shares in Chernomorski Holding last traded at 5.00 levs on the Bulgarian Stock Exchange, bourse data show.
($1 = 0.9438 euro)