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Sep 08, 2023 14:54 EEST
September 8 (SeeNews) - Bulgarian investment company Zagora Fininvest has decided to place an eight-year floating rate bond issue worth 22 million levs ($12 million/11.2 million euro), it said on Friday.
The company will issue 22,000 ordinary, secured, non-convertible bonds at a price of 1,000 levs apiece, equal to their par value, Zagora Fininvest said in a bourse filing. The bonds will have an annual coupon based on the six-month EURIBOR plus 1.5%, but not lower than 3% and not higher than 6%.
Coupon payments will be due semi-annually, whereas principal payments will have a three-year grace period.
The bond placement will be considered successful if it raises at least 10 million levs.
The funds raised through the offering will go towards acquiring stakes in companies, increasing investment value, managing shareholdings and servicing the company's debts, Zagora Fininvest said.
(1 euro = 1.95583 levs)
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