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BSTDB Black Sea Trade and Development Bank : Invests EUR 35 million in Upgrading of Bulgarian Energy Holding

07/31/2021 | 04:42pm EDT
BSTDB Invests EUR 35 million in Upgrading of Bulgarian Energy Holding News | 30-Jul-2021

The BSTDB has invested EUR 35 million as anchor investor in a seven-year senior unsecured bond issue of the Bulgarian Energy Holding EAD (BEH), a state-owned electricity and gas markets leader in Bulgaria and a major electricity exporter in the Balkans.

The BSTDB funding will help implement BEH's priority investment projects in Bulgaria, such as the modernization of the electricity transmission infrastructure, which is crucial for energy security of Bulgaria.

The current investment will bring the BSTDB's total support to BEH to EUR 85 million. BSTDB invested EUR 50 million in the bond issued by BEH in 2018.

Dmitry Pankin, BSTDB President said: 'Energy sector development is one of the BSTDB's key priorities in Bulgaria and in the Black Sea region. We are happy to continue supporting the strategic investment program of the Bulgarian Energy Holding, which will contribute to Bulgaria's sustainable growth and development'.

Over the past three years BSTDB has doubled its portfolio in Bulgaria to EUR 345 million in signed operations. More information on BSTDB operations in Bulgaria is available at https://www.bstdb.org/our-projects/country-profile/bulgaria.

The Bulgarian Energy Holding EAD (BEH) is the leading state energy company supplying electricity and gas in Bulgaria. BEH is the largest state-owned company in Bulgaria in terms of the assets size. It controls a substantial part of the country's energy infrastructure and has a dominant position in the Bulgarian electricity and gas markets through its power generation assets, the largest mining company, electricity and gas transmission and transit networks.

Disclaimer

BSTDB - The Black Sea Trade and Development Bank published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2021 20:41:03 UTC.


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