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Bulgaria’s Elana Agrocredit plans 5 mln euro bond issue

Bulgaria’s Elana Agrocredit plans 5 mln euro bond issue Source: Pixabay

SOFIA (Bulgaria), June 24 (SeeNews) - Bulgarian financial leasing company Elana Agrocredit [BUL:EAC] said that it plans to issue a 63-month bond worth up to 5 million euro ($5.3 million).

The company intends to issue up to 5,000 bonds at their par value of 1,000 levs apiece, Elana Agrocredit said in a stock exchange filing on Thursday.

The bond, which is without a call option, will carry an annual coupon of 3.00% and is due October 15, 2027. Coupon payments will be due every six months, with the exception of the initial payment which will be due three months after the date of the issuance.

Investors can subscribe to purchase bonds between July 12 and July 14.

The bond placement will be considered successful if it attracts no less than 3 million euro, Elana Agrocredit added.

The company will use the funds to finance its main business activity, which is financing agricultural land leases and working capital loan agreements.

($ = 0.95016 euro)

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