EuroHold Bulgaria takes in tenders for 99% of 8% notes due 2021

By Susanna Moon

Chicago, Nov. 29 – EuroHold Bulgaria AD said investors had tendered €46.5 million principal amount, or 99%, of its €47 million of 8% notes due Dec. 22, 2021 guaranteed by Euroins Insurance Group AD.

EuroHold plans to accept all of the tendered notes for purchase with settlement set for Dec. 7 if it meets the financing condition, according to a company press release.

The company said on Nov. 22 that it was offering to purchase the notes at a price of par for each €1,000 principal amount until 11 a.m. ET on Nov. 28.

EuroHold previously said it plans to price new notes with enough proceeds to finance the tender, and the offer is contingent on the new issue.

The dealer managers are Renaissance Securities (Cyprus) Ltd. (+357 22 360 000 or SyndicateDCM@rencap.com) and Euro-Finance AD (+359 2 980 5657 or kirov@eurofinance.bg).

Lucid Issuer Services Ltd. (+44 20 7704 0880 or eurohold@lucid-is.com) is the tender agent.

The issuer is an insurance company based in Sofia, Bulgaria.

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