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Bulgarian Energy begins one-week tender for 500 million 4Ό% bonds
By Susanna Moon
Chicago, June 14 Bulgarian Energy Holding EAD said it is tendering for its 500 million of 4Ό% bonds due 2018 until 10 a.m. ET on June 20.
The purchase price will be par plus accrued interest to but excluding the settlement date.
The offer is being made along with the planned issue of new bonds to allow the company to proactively manage upcoming debt redemptions and to extend its debt maturity profile, according to a company announcement.
Financing for the tender will come from proceeds of the planned new issue of euro-denominated bonds.
The offer is contingent on closing of the new financing.
Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com) is the dealer manager. Citibank NA, London Branch (+44 20 7508 3867 or Citiexchanges@citi.com) is the tender agent.
The issuer is based in Sofia, Bulgaria.
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