December 15 (SeeNews) - Bulgarian investment company Finance Plus Management Holding raised some 20.66 million euro ($22.56 million) in an initial public offering (IPO) of a seven-year corporate bond issue, the Bulgarian Stock Exchange (BSE) said on Friday.
The BSE carried out the first successful bond IPO on its regulated market, the bourse said in a statement.
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On December 14 and 15, Finance Plus Management Holding offered for subscription up to 25,000 ordinary, secured, freely transferable bonds at an issue price of 1,000 euro each, equal to their par value.
The bonds have a fixed annual coupon of 8%, with coupon payments due semi-annually. The principal will be repaid in five semi-annual instalments of 5 million euro, starting in the fifth year.
Sofia-based Finance Plus Management invests in companies operating in the financial sector, according to its LinkedIn profile.
($ = 0.9158 euro)