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Bulgaria's Zenit Investment Holding issues 10 mln euro bond

Bulgaria's Zenit Investment Holding issues 10 mln euro bond Author: Ken Teegardin. Licence: Creative Commons.

SOFIA (Bulgaria), October 12 (SeeNews) – Bulgarian diversified group Zenit Investment Holding [BUL:5Z2], formerly Zenit Agroholding, said on Thursday it has issued an eight-year 10 million euro ($11.8 million) bond.

The company has issued 10,000 bonds with a nominal value of 1,000 euro each, equal to their sale price, Zenit Investment Holding said in a bourse filing.

The issue carries a fixed annual interest rate of 6.0%, with coupon payments due semi-annually.

The bonds will be redeemed after an initial grace period of three years in ten equal instalments of 1.0 million euro each, payable on each coupon payment date starting in the fourth year and ending in the eighth year.

Proceeds from the bond issue will be used to finance acquisitions of minority and majority stakes in companies, bonds and others, Zenit Investment Holding said last month.

($ = 0.8436 euro)

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