site.btaBulgarian Energy Holding Places Successfully Fourth Eurobond Issue to the Amount of EUR 600 Mln

July 16 (BTA) - Representatives of Bulgarian Energy
Holding EAD and the Energy Ministry held a Global Investor Call
on July 13, and a NetRoadShow involving a series of intensive
meetings with a number of global investors on July 13-14, the
company said.

On July 15, BEH successfully placed its fourth bond issue to the
 amount of 600 million euro at an annual interest rate of 2.45
per cent. As investor interest was very strong, the bond was 2.3
 times oversubscribed and the interest rate achieved is the
lowest since the company has entered the international financial
 markets.

BEH's previous Eurobond issues on the international financial
markets achieved an interest rate of 4.875 per cent in August
2016 and 3.5 per cent in June 2018. On July 15, 2021, BEH
achieved a 7-year maturity of the Eurobond issue in August 2028,
 the company said. The lower interest rate and longer tenor of
the issue will help the company to further reduce its annual
interest expenses and to optimize its debt repayments schedule
over a longer period of time.

The proceeds raised will be used to refinance the 550 million
euro 4.875 per cent bond issued in 2016, which matures in August
 2021, as well as for general corporate purposes, excluding
coal-related activities.

The organizers of the bond issue, represented by JPMorgan and
Citigroup, and legal advisors Allen & Overy LLP and Linklaters
LLP, took into account the efforts made by BEH EAD in the
preparation of all the documentation on the issue, as well as
the institutional support provided in the process of Eurobonds
placement by Bulgaria's Energy Ministry in its capacity as sole
owner of the capital of Bulgarian Energy Holding EAD, the
company said. RY/DD

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