site.btaBulgarian Energy Holding Successfully Places EUR 800 Mln Eurobond Issue

The Bulgarian Energy Holding (BEH) announced that it has successfully placed its fifth eurobond issue, raising EUR 800 million on June 12. The bond issue will be listed on the Irish Stock Exchange (Euronext Dublin).

In preparation for the issue, from June 10 to 11, 2025, representatives of BEH and the Bulgarian Energy Ministry, which is BEH’s sole shareholder, held a series of virtual roadshow meetings with prominent international investors. The meetings attracted strong global interest, BEH said in a press release Thursday.

The bond issue has a five-year maturity and an annual interest rate of 4.25%. Due to high investor demand, the bond offering was oversubscribed by 3.5 times. Indicative interest at the early stages exceeded 5.5 times the initial offer amount of EUR 600 million.

The issue received ratings from major credit agencies: Ba2 by Moody’s and BB+ by Fitch.

Proceeds from the new bond issue will be used to refinance BEH’s EUR 600 million bond maturing at the end of June 2025, and for general corporate purposes (excluding any activities related to coal), said BEH.