Bulgarian Development Bank Launches Second Bond Issue

Bulgarian Development Bank AD was established in 1999 year as a successor of Encouragement Bank. File photo

Bulgarian Development Bank has launched its second bond issue to back infrastructure projects in the field of renewable energy, the bank announced.

The issue stands at EUR 20 M. The five-year bonds will bear an annual coupon of 5%.

Bulgarian Development Bank AD was established in 1999 year as a successor of Encouragement Bank. It was transformed into a development bank after the adoption of a special law by the Parliament of the Republic of Bulgaria in April 2008.

In 2009 BDB provided BGN 500 million in support of small and medium sized enterprises and attracted BGN 300 M from foreign financial institutions.

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