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Bulgaria's FSC asks Texim Bank to fix bond issue prospectus

Author Mario Tanev
Bulgaria's FSC asks Texim Bank to fix bond issue prospectus Author: Ken Teegardin. Licence: Creative Commons.

SOFIA (Bulgaria), February 21 (SeeNews) - Bulgaria's Financial Supervision Commission (FSC) said that it has asked local lender Texim Bank [BUL:5CP] to provide additional information and documents regarding the company's request for approval of a bond issue prospectus.

The regulator did not provide further information in its statement, published on Thursday.

Earlier this month, Texim Bank said it will seek to place a seven-year 22 million levs ($12.3 million/11.2 million euro) bond issue, with a fixed annual coupon of 2.2%. The issue will comprise 22,000 bonds with a nominal value of 1,000 levs apiece.

Texim Bank was Bulgaria's smallest lender by assets at the end of 2019, according to central bank data.

The bank's shares last traded on the Bulgarian Stock Exchange at 2.90 levs, up 3.57% up year-to-date. 

(1 euro = 1.95583 levs)

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