Bulgaria's Zenit Investment Holding to issue 8-yr 10 mln euro bond

Proceeds from the bond issue will be used to finance acquisitions of minority and majority stakes in companies, bonds and others, Zenit Agroholding said in a bourse filing.

The issue will bear 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 10 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   

A decision to change the company’s name to Zenit Investment Holding from Zenit Agroholding has been entered into Bulgaria’s commercial register, the group said in a separate bourse filing on Friday. The company shareholders approved a proposal to change its name at a general meeting held on September 18.

($ = 0.8460 euro)