Bulgaria’s Energo-Pro Varna redeems €130 million 3½% bonds due 2023

New York, Dec. 14 – Energo-Pro as said that subsidiary Energo-Pro Varna EAD redeemed its €130 million of 3½% bonds due 2023 on Dec. 14.

The call option was added at a bondholders’ meeting on Dec. 10.

Holders received 101.5% of par plus accrued interest.

The Energo-Pro Varna bonds were issued in November 2016.

Funding for the redemption came from the sale of €370 million of 4% guaranteed notes due 2022 issued by Energo-Pro as. Those bonds priced at par and were issued on Dec. 7 in a Regulation S sale managed by bookrunners Citigroup and JPMorgan.

Energo-Pro is a Prague, Czech Republic-based electricity distribution and hydroelectric power generation company operating in Bulgaria, Turkey and Georgia. Energo-Pro Varna is based in Varna, Bulgaria.

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