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    “Кirov” AD issued its first bond with lead bond manager Raiffeisenbank (Bulgaria) EAD

    29.12.2005
     

    “Kirov” AD issued its first collateralized corporate bond with a par value of EUR 3.5 million. Raiffeisenbank (Bulgaria) EAD is Lead Manager and Underwriter of the transaction. The bond has the following characteristics: 5-year term; maturity on Dec. 5, 2010; floated coupon-6 month EURIBOR + 4%, the principal is payable on 8 equal installments on the dates of the last 8 coupon payments.

    The bond is collateralized with mortgage. With the money of the bond “Kirov” AD will finance new investment projects.
    The bonds were privately placed at their initial offering. At a subsequent stage the bonds will be offered for public trading on the Bulgarian Stock Exchange – Sofia AD.

    “Kirov” AD is one of the biggest companies on the field of import and sales of construction machines, tools and parts. The company was established in 1990 and now has a branch network of 17 stores in 9 cities and more than 180 distributors in over 50 places. “Kirov” AD invested more than BGN 2 610 430 in real estates and buildings, and the espected sales income is over BGN 52 mln
    After the successful completion of Raiffeisenbank’s 21st transaction at the primary market, the bank has confirmed its lead position at the Bulgarian debt market. Since the beginning of 2004, Raiffeisenbank (Bulgaria) EAD has successfully structured and placed as Lead Manager 21 bonds at the total amount of EUR 172.5 million.

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    E-mail: press.pr@raiffeisen.bg

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