Bulgaria's FSC OKs Solar Logistic bond listing prospectus

Bulgaria's Financial Supervision Commission (FSC) said that it has approved the prospectus of local Solar Logistic, previously known as Sevko Bulgaria, for listing an eight-year 25 million levs ($14.5 million/12.8 million euro) bond issue on the Bulgarian Stock Exchange.

The bonds carry a fixed annual coupon of 4.4% with payments due semiannually, the financial regulator said in a statement on Tuesday.

The issue, due in January 2027, consists of 25,000 bonds with a nominal value of 1,000 levs each.

Solar Logistic issued the bonds to fund acquisitions of renewable energy projects.

Earlier this year, the company acquired two solar parks with installed capacity of 197.4 kW each for a total of 684,000 euro.

In December 2018, Capman Green Energy Fund acquired 100% of Sevko Bulgaria from local diversified group Holding Nov Vek [BUL:6N3] for an undisclosed price. Sevko Bulgaria was subsequently renamed to Solar Logistic.

(1 euro = 1.95583 levs)

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