June 27 (SeeNews) - Bulgarian financial services company HypoCredit has cut the coupon of its two outstanding bond issues to 2.9% from 3.9%, the Bulgarian Stock Exchange said.
The new interest rate will be valid from July 1 this year until the two issues mature in June 2021, the Sofia bourse operator said in a notice on Wednesday.
HypoCredit repaid 373,338 euro ($424,957) of the principal of its 4.12 million euro issue [BUL:9RTD], and 257,620 euro of the principal of its 4.16 million euro issue [BUL:9RTE] earlier this month.
Earlier this year, the holders of both issues agreed to cut their interest rates if HypoCredit repays at least 372,000 euro and 255,000 euro of their respective principal values.
($ = 0.8785 euro)