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FSC approves Bulgarian Airways Group prospectus for listing 7.7 mln euro bond

Sep 13, 2019, 11:09:14 AMArticle by Mario Tanev
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September 13 (SeeNews) - Bulgaria's Financial Supervision Commission (FSC) said that it has approved the prospectus of Bulgarian Airways Group for listing a seven-year 15 million levs ($8.8 million/7.7 million euro) bond issue on the Bulgarian Stock Exchange.

FSC approves Bulgarian Airways Group prospectus for listing 7.7 mln euro bond
Author: Bulgaria Air / All rights reserved.

The issue consists of 15,000 bonds with a nominal value of 1,000 levs each, the regulator said in a statement on Thursday.

The bonds, due in December 2025, carry a fixed annual coupon of 3.6% with interest payments due semi-annually.

The principal will be repaid in 10 semi-annual installments, starting from June 2021.

Bulgarian Airways Group is now due to seek approval from the Bulgarian Stock Exchange operator.

Bulgarian Airways Group is a wholly-owned subsidiary of diversified group Chimimport [BUL:6C4].

According to the latest available commercial register data, Bulgarian Airways Group holds a 50.99% stake in flag carrier Bulgaria Air and 100% of Bulgaria Air Maintenance. The company also holds a 24.9% stake in Lufthansa Technik - Sofia.

(1 euro = 1.95583 levs)

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