Bulgaria

Bulgarian Energy Holdings (BEH) opted on Monday for a five year for its first Eurobond in three years. The deal could come as early as Tuesday, according to a lead manager.

State-owned Bulgarian Energy Holding will meet investors next week for its first Eurobond for three years. BEH has mandated JP Morgan and Banca Imi to arrange the meetings, which run from July 18-22.

Bulgarian Energy Holding is planning a Eurobond and the note has been assigned an expected rating of BB- by Fitch.

Bulgarian Telecommunications (Vivacom) has received the necessary waivers from bondholders to allow its proposed acquisition by a consortium of investors, following a bridge loan default last year that triggered a forced sale of the company.

Black Sea Trade and Development (BSTDB) made its dollar debut on Thursday, printing $500m in 144A/Reg S format.

The Republic of Bulgaria is fully funded for 2016 and the international bond it printed earlier this week will be its only one for the year, according to deputy minister of finance Karina Karaivanova.

Bulgaria marked its capital markets coming of age on Monday after timing its first intraday execution of a Eurobond to perfection. The €1.994bn note left the country fully funded for the year.

Bulgaria opened books on a dual tranche euro denominated note on Monday, becoming the first CEEMEA name to pounce on the post-European Central Bank (ECB) meeting relief rally.

CEE sovereigns rallied on Thursday in response to Mario Draghi’s plans to extend quantitative easing. But while some emerging markets bankers were hitting the phones to line up trades next week, others were less convinced that the news would have any impact on issuance.

Bulgarian Energy Holding has picked lead banks for its €650m loan, after taking six months and being downgraded during the arranging process.

Bulgarian Energy Holding, the state electricity and gas group, is looking for €650m of loans as part of a renegotiation with two US power generators.