Time's Up: Last Call for Tax Returns in Bulgaria
As the clock ticks down to midnight tonight, Bulgarians are reminded that April 30th marks the final day for filing their 2023 personal income tax returns
On May 19, 2020 International Investment Bank successfully executed the second transaction under its MTN Programme, which was registered this March on the Dublin Stock Exchange. Czech koruna (CZK)-denominated bonds in the total volume of CZK 621 million (approximately EUR 22,6 million) were issued with a maturity of three years and will be listed on Euronext Dublin. The deal was executed through UniCredit AG, one of the six dealers under the Programme.
The coupon of the issue equals to 3M Pribor + 90 bps and the after-swap price of the instrument stands at Euribor3M + 158.5 bps (a first coupon of 1,3% p.a.). This represents a tightening of more than 20 bps compared to the last RUB deal executed on the Russian market of a similar maturity. Hence, IIB is able to further improve its cost of funding, while satisfying the demand of Czech investors, who are already well familiar with the IIB brand from the Bank’s previous issuances in CZK back in 2018 and 2019.
“The newly executed deal, which comes shortly after the RON and RUB denominated issues, continues to demonstrate the investors’ trust in IIB’s credit story. We have been receiving affirmations on our ratings from all agencies (Moody’s, S&P and ACRA) in the middle of the global markets turmoil, as well as showing improvements in spreads. It is a clear sign that the Bank’s trustworthiness and credibility are recognized by the markets when we need it most”, Jozef Kollar, First Deputy Chairperson of the IIB Management Board, commented.
“Like twins, our two main funding framework pillars (EUR 1.5bn MTN Programme and RUB 100bn Program registered with Moscow Stock Exchange) proved their flexibility benefits in such a short period of time. In less than two months, we four times smoothly tapped three of our important local currency bond markets. With this we managed to frontload most of our long-term funding needs for this year” - Stefan Nanu, IIB Head of Debt Capital Markets and Financial Institutions, noted - “We have drawn valuable lessons from this unexpected world economic crisis and adopt a cautious approach to liquidity and funding without deviating from cost effectiveness and diversification strategy in the implementation of our long-term plan”.
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As the clock ticks down to midnight tonight, Bulgarians are reminded that April 30th marks the final day for filing their 2023 personal income tax returns
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