Sofia, Bulgaria – December 19, 2024 – Karoll AD, as the lead manager, announces the successful completion of Allianz Bank Bulgaria’s €50,000,000 senior unsecured bond issuance. The offering, managed by Karoll, involved the placement of 500 bond lots, each with a nominal value of €100,000, and an annual interest rate of 6.00%. This four-year bond includes an early redemption option, which Allianz Bank can exercise in the third year.
The bond issuance represents the largest corporate bond issued by a private sector company ever to be traded on the Bulgarian Stock Exchange. Secondary trading is set to begin in January 2025. This milestone follows Allianz Bank Bulgaria’s previous successful bond offering in 2023, which raised €39.5 million.
The funds raised will significantly bolster the bank’s sustainable growth strategy, helping to expand its loan portfolio and provide targeted support to small and medium-sized enterprises (SMEs), which are vital to driving economic growth across the country.
With strong demand from both Bulgarian and international investors, Karoll reported total orders exceeding €65 million for the bond issuance. The overwhelming interest enabled Allianz Bank Bulgaria to secure favorable terms, achieving an interest rate of 6%—at the lower end of the initially projected range of 6.00%–6.50%. The offering attracted participation from over 55 investors, with 44% international and 54% Bulgarian investors, further demonstrating the global appeal of the bank’s bond.
About Allianz Bank Bulgaria AD
Allianz Bank Bulgaria, a member of Allianz SE, a global leader in insurance and asset management, is one of the top 10 banks in Bulgaria. Recognized for its dynamic approach to financial services, the bank is committed to providing tailored financial solutions to clients. Allianz Bank Bulgaria holds a long-term credit rating of BBB+, with a stable outlook, reaffirmed by Fitch on June 20, 2024.
About Karoll AD
Karoll AD is a leading investment intermediary with a proven track record in managing public offerings and providing strategic financial consultancy. With a reputation for fostering growth and innovation, Karoll empowers businesses to achieve their financial goals and expand their market presence.
For more information about our projects: https://karollbroker.bg/bg/our-projects
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