Bulgaria's BEH Issues 400 Mln Euro Eurobond

Bulgaria's BEH Issues 400 Mln Euro Eurobond

State-owned Bulgarian Energy Holding (BEH) said on Friday it has placed successfully a seven-year Eurobond in the amount of 400 million euro ($466 million), to be listed on the Irish Stock Exchange. The Eurobond issue, BEH's third, was placed on Thursday at an annual interest rate of 3.5%, the lowest one since the company has been participating in the international financial markets, the energy group said in a statement.BEH achieved a seven-year maturity of its new Eurobond, the longest attained so far, the company said."In this way the company will further spread its interest costs over a longer period of time," BEH noted. The proceeds raised from the issuance will be used to refinance the 500 million euro bond issued by BEH in 2013 and due in November 2018.The holding group placed successfully its second Eurobond issue worth 550 million euro in July 2016.

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