SOFIA, June 14 (Reuters) - State-run Bulgarian Energy Holding (BEH) will hold a roadshow early next week for its planned 500 million euro ($582 million) global bond issue, two sources familiar with the process said on Thursday.
“Investor meetings will be held in London, Frankfurt and Vienna staring on Monday,” one source, familiar with the process said.
“A euro-denominated benchmark offering with 7 to 10-year tenors will follow, subject to market conditions,” the source said.
BEH has hired Citigroup and First Financial Brokerage House to manage the bond issue, needed to refinance a five-year, 500 million euro Eurobond that matures in November.
The company will also make a tender offer for the maturing bond to help optimise its interest costs.
BEH, owner of Bulgaria’s biggest state energy firms for natural gas supply and transmission, power generation as well as coal mining, plans a dual listing of the new bonds on the Irish and Bulgarian stock exchanges.
$1 = 0.8590 euros Reporting by Tsvetelia Tsolova; Editing by Susan Fenton