BAKU, Azerbaijan, May 17. The European Bank for
Reconstruction and Development (EBRD) has invested 50 million euros
in a 500 million euro senior secured bond issued by Eastern
European Electric Company B.V. (EEEC), marking a milestone for
Bulgaria’s private sector in international capital markets,
Trend reports.
The bond, priced on 8 May 2025 and admitted to trading on the
Euro MTF Market of the Luxembourg Stock Exchange on 15 May, is the
first publicly listed, euro-denominated, benchmark-sized bond
issued by a Bulgarian private company in the international debt
capital markets.
EEEC, a subsidiary of Eurohold Bulgaria AD, is focused on energy
distribution and supply in Central and Southeastern Europe. The
proceeds from the bond, including the EBRD’s share, will be used to
finance a grid modernisation programme carried out by
Electrodistribution Grid West (EDG West) over the next five
years.
The planned investments will support the installation of smart
meters, upgrade underground electricity lines, and finance new or
retroactive grid connections for renewable energy assets. These
measures are expected to yield up to 194 GWh in annual energy
savings and contribute to Bulgaria’s climate targets, including its
commitment to reach net-zero greenhouse gas emissions by 2050.
According to the EBRD, the transaction supports the
modernisation of critical infrastructure while encouraging other
private sector issuers in Bulgaria and across the region to access
international capital markets.
“This landmark transaction is not only a notable step forward
for Bulgaria’s green transition but also enhances the country’s
visibility in international debt capital markets,” said Manuela
Naessl, EBRD Head of Bulgaria.
The EBRD has invested nearly 4.8 billion euros across 307
projects in Bulgaria to date, with a continued focus on supporting
sustainable infrastructure and private sector development.