October 5, 2018 / 4:23 PM / 16 days ago

Bulgaria's BEH raises bond issue to 600 mln euros

SOFIA, Oct 5 (Reuters) - State-controlled Bulgarian Energy Holding (BEH) has upped by 50 million euros ($57.57 million) a 7-year Eurobond it issued earlier this year, bringing it to 600 million euros, the company said on Friday.

This is the second increase of the notes, which have an annual coupon of 3.5 percent, since June when it raised 400 million euros. It raised additional 150 million euros in July.

“With this second increase BEH has achieved the targeted amount of the Eurobond issue and no more tap issues are planned,” it said in a statement.

BEH, which pools big state energy assets, will list the new bonds on the Irish and Bulgarian stock exchanges.

Part of the proceeds will be used to pay down one of its two outstanding Eurobonds, a 500 million euro, 4.25 percent, 5-year issue.

Another, 5-year, 550 million euro Eurobond with an annual coupon of 4.85 percent is due to mature in 2021. ($1 = 0.8686 euros) (Reporting by Tsvetelia Tsolova, editing by Louise Heavens)

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