Debt financing

Debt financing means issuing bonds. This is a modern alternative to the external financing by getting a bank loan, which offers a number of advantages:

• Bonds are a flexible financial instrument - with differentiated structure consistent with the needs of the specific issuer
• They provide long-term resource at competitive price
• They allow reasonable level of security
• They contribute to issuers image and advertise them

A good bond issue is the issue, which accounts for the interests of both the issuer and the investors. The successful placement of a bond issue requires good knowledge of the legal framework for issuing a bonded debt, analysing the trends on the financial market and studying the expectations of the investors.

By working actively in close cooperation with the biggest institutional investors in Bulgaria, DV Invest is able to structure the bond issue in a manner uniting the interests of the investors and of the issuer.

We perform financial analysis of the issuer, initial market research for the purpose of testing the investors' interest, structuring the issue and marketing among investors., We do our best to ensure debt conclusion by being committed to organize the issue structuring and its placement in part or in full.

DV Invest is a leading manager in Bulgaria with regard to structuring and placement of bond issues. Since 2013 DV Invest has been the manager of 47 corporate and municipal bond issues, with total nominal value exceeding EUR 249 million.

Procedure for issuing bonds under the conditions of private placement:

• Decision of the competent authority of the issuing company specifying the parameters of the issue;
• Issuing Information Memorandum;
• Negotiations with institutional investors;
• Issuing - subscription and sales;
• Utilization of the funds;
• Drawing up of Prospectus for admission to trading on regulated market of securities;
• Approval of the Prospectus by the Financial Supervision Commission;
• Registration of the issue with the Financial Supervision Commission and the Bulgarian Stock Exchange;
• Servicing of the bonded debt (coupons payment and principal payment) through the Central Depository.

Participation of DV Invest in the procedure of bonds issuing: 

• Research of the market and the interest to the issue of bonds;
• Consultation for the type and volume of issue, size and intervals of coupon payments, security, etc.
• Issuing Information Memorandum;
• Negotiations with institutional investors, placement of the issue;
• Registration of the issue with the Central Depository AD;
• Drawing up of Prospectus;
• Registration of the issue and the company as an issuer in the registers of the Financial Supervision Commission;
• Registration for trading on the Bulgarian Stock Exchange - Sofia AD

DV Invest EAD has been the manager or co-manager of bond issues for total of 47 issues, with total issue value of EUR 249 million:

See detailed information about the bond issues:

Corporate bonds |  Municipal bonds | Mortgage bond issues