Bulgaria: EBRD invests €100 million in Energy Holding’s bonds

The EBRD has invested €100 million in a new seven-year €550 million bond issue by the Bulgarian Energy Holding (BEH), the state-owned entity which controls the country’s energy assets, including the public suppliers of electricity and gas.

The EBRD’s involvement will help BEH continue its support in relation to key power sector reforms as well as restructure its balance sheet and improve the long-term financial sustainability of Bulgaria’s power sector.

The EBRD bought the seven-year senior unsecured bonds on 26 June 2018 and 31 July 2018. The bonds started trading on the Euronext Dublin exchange on 28 July 2018 and are expected to start trading on the Bulgarian stock exchange in August 2018. The new bond will be used to refinance the €500 million bond issued by BEH in 2013, which will improve the holding’s financial structure.

source: EBRD