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IBEC Continues To Build Up "Development Portfolio"

The International Bank for Economic Co-operation (IBEC) participated in a primary Eurobond issue of Bulgarian Energy Holding (BEH).

IBEC’s investment in the BEH Eurobonds will be a part of the IBEC’s "development portfolio".

The attracted financing from the BEH’s issue in the total amount of EUR 400 million will support further development and modernization of energy sector in Bulgaria and in the region.

Bulgarian Energy Holding is the parent company of a homonymous holding which is one of the largest energy holdings in South East Europe specializing in electric power generation, natural gas supply as well as coal supply, storage and extraction, working in other areas of business. Currently the holding is 100 per cent owned by the state – the Republic of Bulgaria, while Bulgaria’s Ministry of Energy executes the state ownership rights and supervision of the company. BEH’s share in Bulgaria’s energy sector is ca. 60 per cent.