February 8 (SeeNews) - Bulgaria's First Investment Bank, or Fibank, [BUL:FIB] said that it used the proceeds from a recent 40 million euro ($43 million) bond issuance to repurchase an existing bond of the same amount.
The planned replacement of the previous issue of perpetual, non-cumulative, uncollateralised, deeply subordinated notes was completed successfully, in line with the bank’s strategy, Fibank said in a stock exchange filing after market close on Tuesday.
In December last year, Bulgaria's fifth largest lender announced an extension of its one-year bond issuance programme launched in December 2021 and worth up to 100 million euro ($105.3 million).
Shares in Fibank closed flat at 2.42 levs on the Bulgarian Stock Exchange on Tuesday. The stock's value has jumped by over 34% in the past 12 months, bourse data showed.
Last month, Fibank reported a 20% annual drop in its standalone net profit in 2022, to 80.3 million levs ($44.1 million/41.1 million euro).
(1 euro = 1.95583 levs)
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