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Bulgaria's Finance Direct gets shareholders nod for 2 mln euro bond

Author Mario Tanev
Bulgaria's Finance Direct gets shareholders nod for 2 mln euro bond Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), November 8 (SeeNews) - Bulgarian financial leasing Finance Direct [BUL:0FDB] said that its shareholders have approved the company's plans to seek to place a five-year 2 million euro ($2.2 million euro) bond issue.

The issue, comprising 2,000 bonds with a nominal value of 1,000 euro each, will carry a fixed annual coupon of 3.75% with payments due semi-annually, Finance Direct said in a statement on Thursday.

The issue will be considered successfully placed if investors subscribe for at least half of the offered bonds.

Finance Direct will list the bonds on the Bulgarian Stock Exchange within one year of their issuance.

Finance Direct currently has two outstanding bond issues with a nominal value of 1 million euro and 1.3 million euro, due in 2021 and 2023, respectively.

($ = 0.9122 euro)

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