Will Bulgaria Have a Stable Government After Yet Another Election in June? Our Readers Have Spoken
On our Facebook page, readers were asked about Bulgaria's stability after the June elections
Bulgaria is marketing euro bonds in three lots maturing respectively in seven, 12 and 20 years, Reuters reported on Thursday.
“The seven-year bond is being offered to investors at mid-swaps plus 195bp area, the 12-year tranche at mid-swaps plus 225bp area while the longest tranche is being offered to investors at mid-swaps plus 260bp area,” the newswire said.
Pricing is expected later on Thursday.
The three-part euro-denominated bond would mark Bulgaria’s first step into the bond market since June last year. The country offered ten-year bonds carrying 2.95% coupon back then.
Last month, Bulgaria's parliament approved a deal with HSBC, Societe Generale, Citigroup and UniCredit to manage international bond sales of up to EUR 8 B from 2015 to 2017. Proceeds from the sales will be used to refinance government debt and finance budget deficits projected at 3% of GDP this year, 2.5% next year and 2% in 2017.
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