November 24 (SeeNews) - Bulgarian financial services company HypoCredit [BUL:9RTE] said that it is seeking approval from the holders of its 2008 bond issue, due on June 30, 2021, to lower its coupon.
HypoCredit is proposing to lower the issue's coupon to 2.5% as of January 1, 2021 from 2.9% currently, the company said in an invitation for a bondholders meeting, published last week.
The vote on the proposal is scheduled for December 15.
The issue's outstanding principal currently amounts to 3.87 million euro ($4.59 million).
($ = 0.8425 euro)