September 19 (SeeNews) - Bulgarian financial leasing company Elana Agrocredit [BUL:EAC] said it issued a corporate bond with a face value of 5 million euro ($4.99 million) to finance its main business activity.
The company issued 5,000 notes with a par value of 1,000 euro each, it said in a stock exchange filing last week.
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The bond has a maturity of 61 months and is due on October 15, 2027. Coupon payments will be due every six months, with the exception of the initial payment which will be due one month after the date of the issuance.
Elana first disclosed plans to issue a 5 million euro bond bearing an annual coupon of 3% in June. The company said at the time the funds will be used to support its main business activity, which is financing agricultural land leases and working capital loan agreements.
According to recently published data, Elana signed deals to finance purchases of agricultural land worth 635,750 levs ($324,296/325,054 euro) in August 2022, more than twice the sum of 310,250 levs provided in the same month of 2021.
(1 euro = 1.95583 levs)