Bulgaria Redeems 818.5 Mln Euro Bond

Bulgaria Redeems 818.5 Mln Euro Bond

Bulgaria redeemed an 818.5 million euro ($1.1 billion) bond maturing on January 15, the country's deputy finance minister said.

The ministry has ordered that 879.8 million euro, including some 61.385 million euro in interest, be paid to the holders of the bond, Karina Karaivanova told reporters during a news briefing in Sofia on Thursday.

The bond, which carried a 7.5% interest, was repaid with the proceeds of a 950 million euro five-year bond with a 4.25% coupon issued in July 2012.

The ministry has also ordered that 45 million U.S. dollars be paid in interest on another bond issue maturing in January 2015, Karaivanova said.

Following the two payments, Bulgaria's state debt will be reduced to 6.147 billion euro from some 6.966 billion euro.

Karaivanova also said that Bulgaria does not plan to issue debt on the international markets in 2013.

In December, the finance ministry said Bulgaria plans to issue domestic government securities worth around 1.2 billion levs ($801.6 million/613.5 million euro) in 2013.

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