Bulgaria's HypoCredit seeks compulsory repayment on bond issue

The company will also seek bondholders' approval to determine a specific way in which to repay their claims on the bond issue with identification number ISIN BG2100018089, HypoCredit said in a filing with the Sofia bourse.

The bondholders' meeting is scheduled for January 21 next year.

On Thursday, the Sofia bourse operator said it is suspending from trading for three business days HypoCredit's bonds from the issue, starting December 19.

HypoCredit issued the ISIN BG2100018089 bond in 2008. The 6.8 million euro ($8.4 million) paper bears an annual interest rate of 7.0%, maturing on June 30, 2018. The issue carries a coupon equivalent to the six-month EURIBOR plus 3.125% but no less than 7.0%.

HypoCredit, set up in 2004, is a unit of Dutch-based TBI Financial Services.

($=0.8121 euro)