December 16 (SeeNews) - Bulgarian financial leasing company Elana Agrocredit [BUL:EAC] applied for admission of a 5 million euro ($5.3 million) bond issue to trading on the Bulgarian Stock Exchange (BSE), the bourse operator said.
The notes have a par value of 1,000 euro each, the BSE operator said in a statement on Thursday.
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The Financial Supervision Commission approved on Tuesday the prospectus for the listing of Elana Agrocredit's bonds.
The company issued in September 5,000 notes which will mature on October 15, 2027. The bond will bear a floating annual coupon rate formed by six-month EURIBOR plus 3.75%. The rate, however, will not be no lower than 3.75% if EURIBOR is negative.
Coupon payments will be due every six months, with the exception of the initial payment which will be due one month after the date of the issuance.
Elana previously said that it will use the bond proceeds to support its main business activity, which is financing agricultural land leases and working capital loan agreements.
($ = 0.94193 euro)