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    Postbank issued its third mortgage bond with Lead Manager Raiffeisenbank. The investors were very interested in the bond


    The Bulgarian Postbank AD issued its third mortgage bond (it was the fourth bond for the bank) with a par value of BGN 30 mln. Raiffeisenbank (Bulgaria) EAD is the Lead Bond Manager and Underwriter. The bond has the following characteristics: 3 year term, maturity on the 16th November 2008. The coupon is fixed – 5 per cent p.a. Because of the investors’ big interest the Lead Bond Manager has placed the bond in 3,78 per cent p.a. The principal is payable on the maturity date. The goal of the bond is to finance Postbank’s mortgage loan programs, as well as other activities of the bank. 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.

    Postbank is one of the most dynamic financial institutions in Bulgaria. The third mortgage bond is a result of the bank’s expansion, supported by the generating of new ideas and products. Postbank permanently improves its results and the main shareholder EFG Eurobank (Greece) supports its activities. That gave the possibility for the realization of this bond.

    After the successful completion of Raiffeisenbank’s 20th 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 20 bonds at the total amount of EUR 169 million.


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