Eurohold Bulgaria Issues Bonds Worth Up To 20 Mln Euros

The general meeting of shareholders in Eurohold Bulgaria ()  has authorized the company's Management Board to be able to adopt decisions on the issuance and initial offering to no less than 100 people (not an IPO in the terms defined by POSA) of an emission of ordinary, registered, paperless, interest-bearing, non-convertible, transferable bonds with a total value of up to 20 mln euros.

The company will use the funds to build new showrooms for its automobile unit, for expansion, and for increasing the capital of its subsidiaries.

Shareholders did not reach a decision on article 5 of the agenda, that is the proposal for authorization of the Management Board to sign contracts with Bulgarian or foreign banks for securitisation of bank loans of subsidiary Eurolease Auto AD. The issue was postponed for the next meeting, since the company is still negotiating the matter with leading financial institutions.
Eurohold stock lost 0.76% today to an average of 6.50 leva.

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