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FSC asks Bulgarian Airways Group to fix bond listing prospectus

Author Mario Tanev
FSC asks Bulgarian Airways Group to fix bond listing prospectus Author: Bulgaria Air / All rights reserved.

SOFIA (Bulgaria), August 7 (SeeNews) - Bulgaria's Financial Supervision Commission (FSC) said that it has asked Bulgarian Airways Group to provide additional information and documents regarding its request for approval of a prospectus for listing a bond issue on the Bulgarian Stock Exchange.

The financial regulator did not provide further details in its statement, published on Tuesday.

Bulgarian Airways Group issued a seven-year 15 million levs ($8.8 million/7.7 million euro) bond in December 2018. The bonds carry a fixed annual coupon of 3.6% with interest payments due semi-annually.

The issue consists of 15,000 bonds with a nominal value of 1,000 levs each.

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

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 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)