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Bulgaria issues 3.1 bln euro triple tranche bonds

Xinhua, March 20, 2015 Adjust font size:

Bulgaria on Thursday successfully launched new triple tranche bonds of 1.25 billion euros (1.35 billion U.S. dollars), 1 billion euros and 850 million euros, officials said Friday.

According to the Ministry of Finance, 370 investors participated across the three tranches maturing in seven years, 12 years and 20 years respectively.

"Bulgaria attracted an extremely granular and high quality investor base into the issue," the ministry said.

In December last year, Bulgarian National Assembly approved a loan of 1.5 billion euros to cover the current needs of the state budget.

At the end of February this year, the parliament ratified a loan of some 8.5 billion euros over three years. Finance Minister Vladislav Goranov said three quarters of the money was to pay old debts.(1 euro = 1.08 U.S. dollars) Endit