EIB global bond for Bulgaria successfully placed. The
European Investment Bank (EIB) has successfully issued its
first global bond in Bulgarian currency aimed at financing
A press release of EIB notes that the BGN 100mn (EUR 51mn)
issue has been heavily overbid by international investors
coming mainly from Austria, Germany, UK and Italy. The average
price of the placed bonds has risen 1pp above the opening level
to 99.9% of the face value.
Bank Austria Creditanstalt has acted as lead manager being
represented by its Bulgarian subsidiary HVB Bank Biochim in
deals arranged with domestic entities. The coupon of the 5-year
bond is set at 4.875% forming an yield slightly below 5%. It is
interesting to note that the yield achieved at the recently
auctioned 5-year EUR 200mn Eurobond of the country's largest
GSM operator MobilTel is just slightly higher at 5.005%.