We issued a EUR 34M SNP 3.5NC2.5 bond at 7.6% on the Bulgarian market

10 march 2025 #News

We have successfully issued 3.5-year private bonds worth 34 million euro (MREL eligible) on the Bulgarian market. The order book reached nearly 40 million euro—twice the initial target amount of 10-20 million euro.

We satisfied nearly 100 professional investor orders at 7.6% and below (final price guidance was 7.5–7.7%). The investors will receive a semi-annual coupon with a 7.6% annual rate. The final maturity date is in September 2028. However, we have the option to redeem the bonds one year earlier.

This is the largest single bond issued by us at the lowest interest for this type of instrument (MREL). The issue process was solely managed by our team. The external legal advisor was Tsvetkova, Bebov & Partners (TBP), part of Eversheds Sutherland.

This successful transaction proves us right in our continuous commitment to the Bulgarian capital market for MREL bond issues. We are happy to see the huge interest from all types of investors and their trust in tbi bank. The newly raised bond will support our continuous growth in our core markets of operation.

Lukas Tursa

Executive Director, tbi bank

The new bond will be listed for trading on the Bulgarian Stock Exchange within the next 6 months.