The owner of Eurohold has provided EUR 500 million to update the network

The European Bank for Reconstruction and Development announced on Friday that it has invested € 50 million in an issue secured bonds worth € 500 million from Eastern Europe Electric Company BV (EEEC) – the owner of Eurohold Bulgaria.

The issue is the first publicly listed, denominated in euro, a benchmark bond by a Bulgarian private company on the international markets of long -lived capital.

It was issued on May 8, and the bonds were issued and admitted to the trade of the Luxembourg Stock Exchange on May 15.

« The success of the issue will encourage other private companies in Bulgaria and in Central and Eastern Europe to gain access to international capital markets, » an EBRD said in a message.

EEEC will allocate an amount equivalent to the revenue from the bonds purchased by the EBRD to finance the modernization of the electricity network in the West electricity distribution network during the five -year bond term.

The modernization program includes the installation of intelligent measuring instruments, improvements to underground power lines, and new or retroactive funding to connect to the renewable asset network, which is expected to lead to 194 gigawatts of energy per year.

« This is an important element for achieving the ambitious goal of Bulgaria for zero net emissions of greenhouse gases by 2050. Bulgaria remains the most energy-intensive economy in the EU, » the bank said.