Bulgaria

Energo-Pro became the latest high yield corporate to join the recent run of supply from central and eastern Europe on Thursday, increasing the size of its debut deal after a decent bookbuild allowed it to raise an additional €20m.

Bulgarian insurer Eurohold has set the minimum size of its five year bond to €50m but postponed pricing from Wednesday to Thursday to allow more orders to come in.

Bulgarian insurer Eurohold has released initial price thoughts for a five year bond of up to €100m.

Bulgarian insurer Eurohold is attempting to cancel the bonds it issued last year as it markets a new deal this week.

Eurohold Bulgaria, an insurance focused financial institution operating in central and eastern Europe, on Monday announced plans to meet investors for a euro-denominated Reg S deal — but did not give any indication of size or tenor.

Eurohold, the unrated Bulgarian insurance and leasing group, refined guidance on Tuesday for a €50m five year EMTN to 8.25% area and said indications of interest were in excess of €45m.

CEE insurer Eurohold Bulgaria has opened books on a five year Eurobond at low to mid 8%. The unrated issuer is expected to print as early as this week.

Eurohold Bulgaria, the holding company for one of south-eastern Europe’s largest independent insurance groups, began meeting investors on Monday before a potential euro-denominated debut bond issue.

Electricity distributor Energo Pro Varna set a new benchmark for the Bulgarian market this week with the sale of the largest local bond from the jurisdiction.

Rating: Ba1/—/BB-

State-owned Bulgarian Energy Holding benefited from a clear run at the CEEMEA primary market this week to print its €550m bond at 375bp over the sovereign curve, according to lead managers.

State-owned Bulgarian Energy Holding offered a handsome pick-up over Bulgaria’s sovereign curve at final guidance stage on Tuesday.