Four banks to manage Bulgaria’s 8 BN euro bond issues over next three years

Bulgaria’s cabinet has chosen four international banks as agents for a mid-term bond programme on international markets over the next three years that will have a total value of eight billion euro, it has emerged from documentation tabled in the National Assembly for ratification.

The cabinet signed the dealership contract, between Bulgaria in its capacity as issuer and Citigroup Global Markets, HSBC Bank Plc, Societe Generale, and UniCredit Bank AG in their capacity as organisers and dealers of the Global Medium Term Note (GMTN) programme to a total value of eight billion euro, on February 6 2015.

On that date, Bulgaria’s Finance Ministry said that international rating agency Moody’s Investors Service had assigned a provisional Baa2 rating with a stable outlook to the GMTN.

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(Photo: Miroslav Sárička)