As of today, the bonds issued in April by Starcom Holding AD, the majority shareholder of Eurohold Bulgaria AD, worth EUR 200 million (ISIN: BG2100013262), are now being traded simultaneously on the Bulgarian Stock Exchange (BSE) and the Frankfurt Stock Exchange (operated by Deutsche Börse) through EuroBridge Market – the segment for the dual listing of securities issued by Bulgarian companies in both Bulgaria and Germany.

This is the first bond issue listed on EuroBridge – the market segment designed by the BSE and Deutsche Börse, which directly links the Bulgarian and German capital markets and provides Bulgarian companies with expanded access to global capital. On 17 August in Sofia, in the presence of the issuer’s management and representatives of the Bulgarian Stock Exchange, a bell-ringing ceremony was held on the trading floor of the BSE, symbolically marking the start of trading in Starcom’s securities. The event marked the successful completion of the dual listing process for the first bond issue on EuroBridge Market, which opens and provides even more opportunities for Bulgarian companies to access global portfolio investors and capital in one of Europe’s leading financial centers.

Starcom’s bond issue (ISIN: BG2100013262) has a total value of EUR 200 million, comprising 20,000 book-entry, secured bonds with a par and issue value of EUR 10,000 each. The loan has a term of 7 years (maturing in April 2033) and includes a 3-year grace period on the principal. The issue carries a floating interest coupon rate based on the 6-month EURIBOR plus a margin of 3.00 percent per annum,
with a guaranteed interest rate corridor between 5.00% (floor) and 7.50% (ceiling).

Photos: BSE

Milen Christov, CEO of Starkom Holding AD, stated: “The companies owned by Starcom have accumulated solid experience and have accomplished dozens of successful projects on the international capital markets, some of which are unrivalled in the region’s corporate sector in terms of value and significance. The companies in our portfolio enjoy a high level of trust amongst investors in Europe and globally, and in this regard, the listing of the parent company’s – Starcom’s bonds, on EuroBridge is a perfectly logical step that will support liquidity and trading in the securities. As the first Bulgarian company to issue bonds in this segment, we would be delighted if this move were to encourage other Bulgarian businesses to follow suit, with all the resulting benefits and advantages for the Bulgarian economy. We will all stand to gain from this.”

Assoc. Prof. Dr. Manyu Moravenov, Chief Executive of the Bulgarian Stock Exchange, said: “I am delighted to announce the launch of the first bond issuance on the Eurobridge market simultaneously on the Bulgarian Stock Exchange and in Frankfurt. This launch marks a new stage in the development of the BSE’s bond market, which has been growing very dynamically in recent years. Around EUR 700 million is raised annually in bonds on the Bulgarian Stock Exchange. With Starcom’s entry into this market, we are now opening the door to
large bond issuances with access to global investors. I wish Starcom much success with this project and hope its issuance will achieve its objectives. I would like to extend my special congratulations to the company’s team, the advisers and the investment intermediary for this move, as well as to our colleagues at the Bulgarian Stock Exchange and in Frankfurt, who helped turn this project into a reality.”

Starcom consolidates energy, insurance and financial (asset management and investment intermediation) businesses, with group-owned assets totaling EUR 2.3 billion, spread across a total of 11 companies, operating in 11 markets and employing nearly 7,000 employees. The company is the majority shareholder (holding 80% of the capital) of Bulgaria’s largest publicly-listed holding company – Eurohold Bulgaria AD, which owns Electrohold Group, one of Bulgaria’s leading power distributors, suppliers and traders of electricity, as well as Solars Energy EAD, one of the major investors in photovoltaic power plants and renewable energy storage systems. Starcom also owns Euroins Insurance Company AD, which is a market leader and operates in several European markets, as well as Euro-Finance AD, a leading investment intermediary and member of Deutsche Börse Xetra.