Bulgaria's Ekip-98 Holding to issue 7.7 mln euro bond

The bonds have a floating semi-annual coupon based on the six-month Euribor plus 3.00%, but no less than 3.25% and no more than 6.00%, the company said in a stock exchange filing on Friday.

The funds raised through the bond issuance will go towards partially repaying existing debt, expanding the group's activities by acquiring majority stakes in local companies, the acquisition of real estate and providing capital to subsidiaries, according to the filing.

As at September 30, the company had two subsidiaries, Exclusive Tower and Retail Park Sredets.

Ekip-98 Holding shares last traded on the BaSE market of the Bulgarian Stock Exchange at a price of 20.40 levs.

(1 euro = 1.95583 levs)