Bulgaria Airways Group Plans Stock Market Flotation

 The Bulgarian Stock Exchange said on Wednesday that it has received a request for admission to trading of a seven-year 15 million levs ($8.8 million/7.7 million euro) bond issue, placed by Bulgarian Airways Group [BUL:B2GA].

The issue consists of 15,000 bonds with a nominal value of 1,000 levs each, the stock exchange operator said in a statement.

The bonds, due in December 2025, carry a fixed annual coupon of 3.6% with interest payments due semi-annually.

The principal will be repaid in 10 semi-annual installments, starting from June 2021.

Bulgarian Airways Group is a wholly-owned subsidiary of diversified group Chimimport [BUL:6C4].

According to the latest available commercial register data, Bulgarian Airways Group holds a 50.99% stake in flag carrier Bulgaria Air and 100% of Bulgaria Air Maintenance. The company also holds a 24.9% stake in Lufthansa Technik – Sofia.

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