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Dec 04, 2023 11:57 EEST
December 4 (SeeNews) - Bulgarian investment company Elea Capital Holding [BUL:RDNA] has decided to privately place an eight-year floating rate bond issue worth 12 million euro ($13 million), it said.
The company will issue 12,000 ordinary, secured, non-convertible bonds at a price of 1,000 euro apiece, equal to their nominal value, Elea Capital said in a bourse filing on Friday.
The coupon will be based on the six-month EURIBOR plus 1.00%, but not lower than 3.25% and not higher than 5.25% annually. Coupon payments will be due semi-annually, while principal payments will have a three-year grace period.
The bond issue will be considered successful if it attracts investment of at least 6 million euro. The funds raised through the bond issue will go towards acquiring and managing stakes in companies, restructuring Elea Capital's shareholdings and liabilities, increasing the company's financial assets and repaying debts.
Last month, Bulgaria's Financial Supervision Commission said it temporarily halted an offer by Cyprus-based Rehub to acquire the 30.36% stake it does not already own in Elea Capital, citing issues with the offer.
Shares in Elea Capital last traded on November 22 when they closed at 26.00 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.
($ = 0.9195 euro)
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