SOFIA (Bulgaria), May 21 (SeeNews) – Bulgarian renewable energy company Solar Logistic said it has decided to place a seven-year bond worth 13 million euro ($14.6 million).
The company plans to issue the ordinary, secured, non-convertible bonds with a floating annual coupon based on six-month EURIBOR plus 1.5%, with the sum not lower than 3% and not higher than 5.5%, Solar Logistic said in a bourse filing on Tuesday. Coupon payments will be due semi-annually.
The raised funds will be used to finance real estate acquisitions and development, purchase financial assets and equity stakes, finance companies within the Solar Logistic group and repay debt.
Solar Logistic has another bond [BUL:SL1A] with an outstanding principal of 10 million levs ($5.7 million/5.1 million euro), which will mature in January 2027, Sofia bourse data show.
($ = 0.8896 euro)