SOFIA (Bulgaria), July 11 (SeeNews) – Bulgarian sugar and candy maker Zaharni Zavodi [BUL:3Z9] said it plans to issue a 30 million levs ($17.5 million/15.3 million euro) 7-year bond.
The proceeds from the bond issue will be used to repay debt, as well as for working capital, Zaharni Zavodi said in a bourse filing on Monday.
The company will issue 300,000 bonds with a nominal value of 100 levs each, equal to their sale price.
The bond will carry an annual coupon of up to 5%, with coupon payments due semiannually.
The proposal will be put to the vote during the company’s extraordinary shareholders meeting scheduled for August 11.
(1 euro = 1.95583 levs)