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    Raiffeisenbank (Bulgaria) EAD lead manager of Bulgarian Postbank’s AD biggest bond issue


    Raiffeisenbank (Bulgaria) EAD has successfully placed a corporative bond issue of Bulgarian Postbank AD at the end of July 2006. During their initial offering, the bonds were privately placed with institutional investors, as Raiffeisenbank (Bulgaria) was the lead manager and underwriter of the bond. Co-underwriters are also Bulbank, TB Allianz and ZPAD Allianz. The bond has a per value of BGN 33, 750 Mio. This is the fifth consecutive bond issue of Bulgarian Postbank AD and its second corporative bond issue. The coupon is fixed at 4,55% p.a. and the maturity is 36 months.

    “The attractive price of the bond is due to Postbank’s high investment rating – BBB according to Fitch Ratings” Asen Yagodin – Executive Director of Postbank said. He added that the new bond issue will be used to optimize the price of the attracted resources from the Bank, because of the strong demand for loans in the local currency – both mortgage and consumer, which are one of the most dynamic sectors of the market.

    Bulgarian Postbank AD is among the most dynamic developing financial institutions in Bulgaria. The new bond issue comes as a result of this expansion, supported by active generation of new ideas and products. The realization of the new initiatives is secured by relevant flexible financing. The good financial rating of Bulgarian Postbank AD, as well as the strong support from its main shareholder – EFG Eurobank (Greece) gives the stable base needed for an issue of that kind.

    For the first seven months of 2006, Raiffeisenbank (Bulgaria) was Lead Manager of 9 new bond issues, at the amount of over EUR 66 Mio, corresponding to market share of 59%.


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