Bulgaria’s Financial Supervision Commission (FSC) has approved the prospectus for a 2.5 million euro ($2.6 million) three-year bond issued by Bulgarian investment company TIZ Invest, paving the way for its trading on the regulated market.
The FSC has registered the bond, issued last May, in its register of public companies and other securities issuers, according to a statement released on Wednesday (Feb. 26).
Plovdiv-based TIZ Invest issued 2,500 secured, freely transferable bonds with a par value of 1,000 euros each. The bonds feature a floating coupon rate of six-month EURIBOR plus 3%, subject to a minimum of 4% and a maximum of 7.5% annually. The bonds will mature on May 21, 2027.
Funds raised from the bond issuance will be allocated towards real estate acquisition, development, and sales, the acquisition of financial instruments and assets, and the repayment and restructuring of the company’s liabilities, as previously stated by TIZ Invest.
Further information from the Bulgarian Stock Exchange reveals that TIZ Invest AD has been actively pursuing the admission of its bonds to trading. Recent press releases from the BSE indicate that TIZ Invest AD has submitted applications for the admission of its bond issues.
This activity highlights the company’s intent to increase the liquidity of its financial instruments and provide greater transparency to investors. The company’s focus on real estate and financial instruments suggests a diversified investment strategy, aiming to capitalize on various sectors within the Bulgarian economy.
The move to have its bonds traded on the regulated market signifies a step towards greater financial market participation for TIZ Invest. The 2017 founding date indicates that TIZ Invest is a relatively young company, making its growth and bond issuance in a short time frame noteworthy.
TIZ Invest at a Glance
Year Founded: 2017 Headquarters: Plovdid, Bulgaria Registered capital: BGN 50,000 (divided into 5,000 shares at BGN 10 each)
