April 18 (SeeNews) - Bulgaria's Bulland Investments REIT [BSE:5BD] said that its shareholders have approved a proposal to empower the company's board of directors to take a decision to issue corporate bonds worth up to 35 million levs ($20.1 million/17.9 million euro).
The board can take the decision within the next 5 years, Bulland Investments REIT said in a bourse filing earlier this week.
Last month, the real estate investment trust said that it is planning to issue an unsecured ten-year 10 million euro bond. Bulland Investments REIT intends to use the bond proceeds to finance the acquisition of investment real estate properties, the company said at the time.
The bonds will carry an annual coupon of between 3.75% and 6.0%.
Bulland Investments REIT intends to list the bonds on a regulated market within six months of the placement.
(1 euro = 1.95583 levs)