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Bulgaria's Finance Direct seeks shareholders approval for 2 mln euro bond

Author Mario Tanev
Bulgaria's Finance Direct seeks shareholders approval for 2 mln euro bond wrangler/Shutterstock.com

SOFIA (Bulgaria), October 4 (SeeNews) - Bulgarian financial leasing Finance Direct [BUL:0FDB] said that it is seeking the approval of its shareholders to offer 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 earlier this week.

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

One of Finance Direct's three currently outstanding issues matures on October 15. The issue has a nominal value of 250,000 euro and carries an annual coupon of 7.62%.

Finance Direct also has outstanding 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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