tbi bank is planning a new bond issue in June

tbi bank is planning a new public offering of bonds aimed at institutional and individual professional investors. The prospectus has already been approved by the Bulgarian Financial Supervision Commission (FSC). The maturity of the new bond is 2.5 years (30 months), with coupon payments due quarterly. The bank has the right to buy back the bonds 1 year before maturity.

The start of the public offering and the full text of the prospectus will be announced on the tbi bank website at least 7 days before the start of subscription.

Meanwhile, the bonds that tbi bank issued in December 2023 will soon be able to be traded on the Bulgarian Stock Exchange (BSE), after that prospectus of the bank - for secondary trading - was also approved by the FSC.

Thanks to investors' confidence in tbi, in 2023 the bank successfully issued two bond issues with an interest rate of up to 9.5%, structured to meet the requirements for instruments of eligible liabilities (MREL). Both registered orders above the size of the issues, with great interest being expressed by various investors – institutions, such as pension funds, management companies, insurance, and state-owned companies, as well as individual professional investors.

tbi bank is the most profitable and fastest-growing bank in the Bulgarian market (according to Capital K10, 2024). In 2023, tbi achieved the highest growth in assets (nearly 40%) among all banks in Bulgaria and reported a record consolidated net profit of EUR 42.4 million. This positive trend continues in the first quarter of 2024 with a net profit of EUR 11.3 million (almost 40% more compared to the result for the same period last year) and an asset growth of nearly 35% on an annual basis. reaching BGN 1.57 billion (about EUR 750 million).

We want to offer investors a flexible investment instrument with relatively short-term and attractive returns similar to those of our previous bonds. In our view, the main interest rate in the Eurozone has already reached its peak, which provides an excellent opportunity for an investment with a good, fixed yield," says tbi bank CEO Lukas Tursa.

Translated by Tzvetozar Vincent Iolov