Financed ProjectsBulgarian Energy Holding Bond 2025

Identification Code:

OP/25/0021

Total Operation Cost:

600.000.000

Maturity:

84 months

Operation Status:

Description and Purpose of the Operation:

EUR 40 million participation in the corporate bond issuance (the Bond) by the Bulgarian Energy Holding EAD (BEH, the Issuer). The net proceeds from the Bond will be used for general corporate purposes, including the repayment of outstanding indebtedness, such as the bonds maturing in June 2025. The Issuer shall procure that all amounts raised through the issuance of the BSTDB bonds shall be applied to the implementation of the certain investment projects of the Issuer in connection to its operations in Bulgaria.

Countries of Operation:

Bulgaria (100,00 %)

Financial Product:

Loans

Sector:

Utilities

Domain:

Private

Borrower/Client:

Bulgarian Energy Holding EAD is the parent company of a group of subsidiaries and affiliates primarily engaged in electricity generation, transmission, and supply, as well as natural gas transmission, supply, and storage, and coal mining. BEH holds a leading position in both the electricity and gas markets in Bulgaria, and also plays a significant role in the regional energy sector through electricity exports to the Balkans. BEH owns and operates Bulgaria’s main electricity generation assets, the national electricity transmission grid, and the natural gas transmission and transit networks. In addition, the Group serves as the public supplier of electricity and natural gas in Bulgaria, underscoring its role as a strategically important, state-owned enterprise and a central player in the Bulgarian energy sector.

Co-Financiers/Participants:

N.A.

Guarantors/Sponsors:

N.A.

Developmental and Regional Cooperation Impact:

The financing supports the development of the energy sector in Bulgaria, reflecting BEH’s role as the incumbent, 100% state-owned electricity and gas utility. BEH makes a substantial contribution to Bulgaria’s energy security, as well as to the country’s GDP and overall economic Growth.The financing supports the development of the energy sector in Bulgaria, reflecting BEH’s role as the incumbent, 100% state-owned electricity and gas utility. BEH makes a substantial contribution to Bulgaria’s energy security, as well as to the country’s GDP and overall economic growth.

Environmental Classification and Impact (summary):

Category B+ with medium-to-high E&S risks and impacts. The Group demonstrates a strong commitment to E&S compliance and proactive management of its operations. The evolving EU climate landscape presents significant challenges that necessitate ongoing investments in technology and sustainable practices. By leveraging free allowances, investing in modernization, and exploring renewable energy opportunities, the Group is enhancing its operational viability and competitiveness in decarbonizing the power sector.

Operation Leader:

Energy & Infrastructure

E-mail:

ei@bstdb.org