Bulgaria's Finance Plus Management to hold 25 mln euro bond IPO

Finance Plus Management will offer up to 25,000 ordinary, secured, freely transferable bonds at an issue price of 1,000 euro each, equal to their par value, on December 14 and 15, the Bulgarian Stock Exchange said in a statement on Thursday.

The bonds will carry a fixed annual coupon of 8%, with coupon payments due semi-annually. The principal will be repaid in five semi-annual instalments of 5 million euro, starting in the fifth year. The offering will be considered successful if at least 15,000 bonds are subscribed.

This is the company's first bond issue. The securities will trade under the code FPM1.

Sofia-based Finance Plus Management invests in companies operating in the financial sector, according to its LinkedIn profile.

($ = 0.9284 euro)