VARNA PLANS TO ISSUE EUROBONDS BY THE END OF 2002

Business | January 31, 2002, Thursday // 00:00

The municipality of the seaside city Varna will float a eurobond issue by the end of 2002, Dimo Dimov, head of the municipal finance directorate told Pari Daily. The issue will range between EUR 3 M to EUR 5 M and will be sold primarily on the domestic market. The interest rate is expected to be at 7-9 percent, the issue will be with one-year grace period and its maturity term will be three to five years.

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