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Dec 13, 2019 14:57 EEST
December 13 (SeeNews) - Bulgaria's Investbank said it will seek the approval of its bondholders to repay its 9.1 million levs (5.2 million/4.7 million euro) perpetual bond issue.
The bondholders will be obliged to invest all proceeds from the bonds in Investbank's forthcoming capital increase, the lender said earlier this week in an invitation for a meeting of bondholders scheduled for December 20.
The bank placed the bonds in May 2013. The issue carries an annual coupon of 4%.
Earlier this year, the European Central Bank said that it has found a capital shortfall of 51.8 million euro at Investbank, following a comprehensive assessment.
(1 euro = 1.95583 levs)
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