Bulbank completes successfully the primary offering of the first bond emission of Vinprom Damyanitza. Corporate bonds amount to BGN 3 mln with a term of 60 months.

The main aim of the emission is investment in machinery, equipment and reconstruction of the production premises of the company. Vinprom Damyanitza plans to invest additional financial resources in new vineyards.

"We work perfectly with Bulbank for third consecutive year and the successful bond loan shows the high confidence of Bulbank to Damyanitza. I consider that this is just the beginning of the implementation of such innovative financial instruments in the wine production business which requires large and long-term investments. Perfect wine needs perfect bank," said Philip Harmandjiev, chairman of the Damyanitza Board of Directors.

The bonds coupon stood at 7,05% and it is payable of 6-month term base. Damyanitza does not anticipate secondary public offer of the bonds.