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Bulgaria's FSC rejects Holding Nov Vek prospectus for listing bond on EU market

Author Mario Tanev
Bulgaria's FSC rejects Holding Nov Vek prospectus for listing bond on EU market Financial Supervision Commission/All rights reserved.

SOFIA (Bulgaria), August 7 (SeeNews) - Bulgaria's Financial Supervision Commission (FSC) said that it has rejected the prospectus of local diversified group Holding Nov Vek [BUL:6N3] for listing a bond issue on a regulated market in the European Union.

Despite receiving clear instructions to provide missing documents and filing three revisions of the prospectus, Holding Nov Vek still did not provide all necessary documents, the financial regulator said in a statement on Tuesday.

Holding Nov Vek placed an eight-year 15 million euro ($17 million) bond issue [BUL:6N31] in 2015. The issue consists of 15,000 bonds with a nominal value of 1,000 euro each.

The bonds carry an annual coupon of 4.5% with interest payments due twice per year.

Holding Nov Vek listed the issue on the Bulgarian Stock Exchange in 2016.

($ = 0.8819 euro)

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