Bulgaria's Varna Realties issues 10.2 mln euro bond

Varna Realties issued 20,000 ordinary, unsecured, freely transferable bonds at a price of 1,000 levs apiece, equal to their par value, Holding Varna said in a stock exchange filing.

The bonds have a fixed annual coupon of 2%, payable every six months. The issue will mature on April 17, 2032, with principal payments made in ten semi-annual instalments, following a two-year grace period.

The funds raised from the bond issuance will go towards restructuring and diversifying Varna Realties' liabilities, Holding Varna said.

Varna Realties specialises in the acquisition, management and sale of stakes in other companies and renting out own real estate, along with construction, maintenance and renting out of advertising facilities, according to Holding Varna's website.

The company has another bond issue [BUL:VRSA] with an outstanding principal of 10 million levs, which will mature in 2029, Sofia bourse data show.

(1 euro = 1.95583 levs)