Bulgarian Energy Holding Gets Deutsche Bank, Citi Offers for 250 Mln Euro Loan

Bulgarian Energy Holding Gets Deutsche Bank, Citi Offers for 250 Mln Euro Loan

The Bulgarian Energy Holding (BEH) said it has received bids from Deutsche Bank and Citi Group in a procedure for extending a 250 million euro ($323.7 million) loan to the state-run company.

In another procedure, for advisor on the placement of a 250 million euro bond issue, BEH has received six offers from Goldman Sachs, Citi Group, JP Morgan & FFBH, Deutsche Bank, Societe Generale and HSBC.

The holding company launched the selection procedures on March 7.

Earlier this month, BEH said it plans to borrow up to 500 million levs ($331 million/256 million euro) to refinance a credit taken out by one of its units, the National Electricity Company. The company said it was considering two options - a bond issue or a loan from a bank or a syndicate of banks.

BEH incorporates assets of Bulgaria's sole nuclear power plant Kozloduy, gas monopoly Bulgargaz, gas transmission system operator Bulgartransgaz, telecommunications operator Bulgartel, the National Electricity Company and its wholly-owned system operator Electricity System Operator, coal-fired power plant Maritsa East 2 and the Maritsa East coal mines.

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