Opportunity Bulgaria Investment to sell unexercised bond rights

Opportunity Bulgaria Investment will offer some 5.03 million rights, to which no bonds have been subscribed, BSE said in a statement.

Orders for the unexercised rights can be placed between 1315 and 1345 local time on April 2.

The bond issue will comprise 8,000 ordinary, unsecured, convertible bonds with an issue price of 1,000 levs apiece, equal to their par value, Opportunity Bulgaria Investment said earlier. It will carry a fixed annual coupon of 5%, with payments due semi-annually.

The proceeds from the offering will go towards bolstering investments and generating current income while mitigating risk by diversifying the company's portfolio of financial instruments.

The bond placement will be considered successful if it attracts at least 5 million levs.

Shares in the company last traded on March 21 when they closed at 1.70 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)