Eurohold Bulgaria to redeem 31 mln euro of bonds, extends issue maturity

The issue, which has a 6.5% coupon and is listed on Euronext Dublin, will now mature on June 7, 2026, Eurohold said in a bourse filing.

In connection with the extension, the holding will buy back 31 million euro worth of notes after 44.29% bondholders accepted the option to request redemption of their share of debt paper held.

Eurohold Bulgaria issued the bond in 2017 under a 200 million euro medium-term note programme guaranteed by subsidiary Euroins Insurance Group (EIG).

On Wednesday, Fitch Ratings announced that the bond's maturity extension will not affect the group's current B+ credit rating.

Earlier this week, Eurohold Bulgaria investors authorised the board to agree new financing of between 75 million euro and 100 million euro to the benefit of the holding group and EIG.

In its most recent interim financial statement, Eurohold Bulgaria reported its highest-ever revenue of 4.69 billion levs ($2.5 billion/2.4 billion euro) for a January-September period. The holding plans to base its further growth on its energy and insurance businesses.

(1 euro = 1.95583 levs)