Financed ProjectsBulgarian Energy Holding EAD

Identification Code:

OP/18/0021

Total Operation Cost:

600.000.000

Maturity:

84 months

Operation Status:

Description and Purpose of the Operation:

Participation in the tapping of the recent bond issue of the Bulgarian Energy Holding EAD. The BSTDB funding will support the Company in implementing its on-going investment projects in Bulgaria including modernization of the electricity and gas transmission infrastructure in the country. Specific focus in modernizing its gas infrastructure will be on interconnectors between Bulgaria and its neighbouring countries, which is one of the Company’s strategic priorities and crucial for energy security and integration in the region.

Countries of Operation:

Bulgaria (100,00 %)

Financial Product:

Loans

Sector:

Utilities

Domain:

Private

Borrower/Client:

Bulgarian Energy Holding EAD (BEH, Issuer) is the holding company for a group of companies and affiliates (together with BEH – Group) which are principally engaged in electricity and gas market in Bulgaria. BEH has a dominant position in the Bulgarian electricity and gas market through its ownership of most of Bulgaria’s power generation assets(including a nuclear power plant, lignite-fired and hydro power plants),the country’s largest mining company, the country’s electricity transmission network, gas transmission and transit networks and through its position as public supplier of both electricity and gas in Bulgaria.

Co-Financiers/Participants:

N/A

Guarantors/Sponsors:

N/A

Developmental and Regional Cooperation Impact:

The operation contributes to the development of the electricity and gas sector in Bulgaria given the BEH status as the incumbent 100% stated- owned electricity and gas utility in the country and Group’s significant contribution to energy security, GDP and economic growth of Bulgaria.

Environmental Classification and Impact (summary):

Environmental and Social Category B. The main risks the Group is exposed to, which could materially affect its business are the constantly tightening EU and Bulgarian environmental legislation, and the occurrence of unforeseen events caused by man, equipment failure, or nature. Based on the information provided in the Bond Prospectus it may be concluded that BEH has instituted the key controls throughout its business entities and processes, and is adequately managing the critical environmental and social issues associated with its activities.

Operation Leader:

Energy & Infrastructure

E-mail:

ei@bstdb.org