Financial institution Fibank successfully secures a €50 million bond, marking a significant investment milestone.
Fibank, one of the leading banks in Bulgaria, has announced a successful private bond issue worth €50 million. This marks the largest bond issued by a locally owned bank in Bulgaria to date, further strengthening Fibank's position in the banking sector.
The bond issue, complying with MREL requirements, is dematerialized, non-convertible, unsecured, senior, unsubordinated, and freely transferable. It matures in August 2029, and bondholders will receive a fixed annual coupon of 7% until maturity.
The bonds were oversubscribed, indicating high trust in Fibank and its development strategy. The strong demand from institutional investors reflects Fibank's robust performance in recent years. The proceeds from the bond issue will support the implementation of Fibank's development strategy in the retail and SME areas.
Mr. Nikola Bakalov, Chief Executive Officer and Chairman of the Management Board of Fibank, commented on the bond issue, stating, "This bond issue is a strategic step to reinforce Fibank's stability, investor confidence, and funding abilities."
By mid-year 2025, Fibank reported a 169% increase in profit, reaching BGN 110 million. The bank ranks fifth in the Bulgarian banking system by assets, with BGN 15.8 billion as of the end of Q2 2025. The most significant growth observed in Fibank's performance is in retail banking.
The bonds will be listed on a regulated market within six months of issuance. The bond issue does not require a prospectus under offering terms, as previously mentioned. No detailed information about involved institutions or investors is provided.
Fibank's successful bond issue underscores its commitment to growth and innovation in the banking sector. As the bank continues to expand its footprint, it is poised to remain a key player in the Bulgarian banking industry.
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