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Russia-based IBEC debuts on Sofia bourse with 34.8 mln euro bond issue

Russia-based IBEC debuts on Sofia bourse with 34.8 mln euro bond issue Photo: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), September 1 (SeeNews) - Moscow-headquartered International Bank for Economic Cooperation (IBEC) made its debut on the main market of the Bulgarian stock exchange on Wednesday with a bond issue worth 68 million levs ($41.1 million/34.8 million euro), the bourse said.

The issue comprises 6,800 ordinary bonds with a nominal value of 10,000 levs each, the stock exchange BSE said in a statement.

The bonds, which are maturing in June 2024, carry an annual interest rate of 1.15%, paid semi-annually.

The bond listing, IBEC's first on the European debt market, will provide the bank with new opportunities for even more active participation in the development of Bulgaria's economy, board chairman Denis Ivanov was quoted as saying.

IBEC is a multilateral financial institution which aims to promote the development of the economies of the bank's member countries - Bulgaria, Romania, Vietnam, Mongolia, Poland, Russia, Slovakia and the Czech Republic.

(1 euro = 1.95583 levs)

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