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“Sinergon Holding” AD issued its first bond with lead bond manager Raiffeisenbank (Bulgaria) EAD
29 Decempber 2005
“Sinergon Holding” AD issued its first collateralized corporate bond with a par value of EUR 10 million. Raiffeisenbank (Bulgaria) EAD is Lead Manager and Underwriter of the transaction. The bond has the following characteristics: 5-year term; maturity on Dec. 8, 2010; floated coupon-6 month EURIBOR + 3.5%, the principal is payable on 4 equal installments on the dates of the last 4 coupon payments. The bond is collateralized with mortgage on a hotel complex.
The bonds were privately placed at their initial offering. The bonds will not be offered for public trading on the Bulgarian Stock Exchange – Sofia AD.
“Sinergon Holding” AD is one of the largest holding structures in Bulgaria with a capital of BGN 10 528 366 and over 170 000 share holders. Established 10 years ago, nowadays the holding is a majority owner of 19 copmpanies all over Bulgaria.
The investment portfolio of Sinergon includes strategic for the country companies such as Toplivo AD, Lakprom AD, Elektrodi AD, Petar Karaminchev AD and Svetlina AD-Sliven. Among the biggest investments of the holding for the last years are Novotel Plovdiv, a gas bottling company in Sofia and three hotel in Sunny beach resort, as well as one of the most modern mill companies – Petromel 1 OOD.
Sinergon Holding’s financial results rank it among top 10 of the best governed holding structures in Bulgaria. As a result the holding enjoys high investors’ interest on its shares and newly issued bonds.
After the successful completion of Raiffeisenbank’s 15th transaction at the primary market for 2005, the bank has confirmed its lead position at the Bulgarian debt market. Since the beginning of the year, Raiffeisenbank (Bulgaria) EAD has successfully structured and placed as Lead Manager 15 bonds at the total amount of EUR 152 million.
