ELANA Agrocredit bond issue to start secondary trading on the Bulgarian Stock Exchange as of 2 November 2017 with BSE code assigned – 0EA2 (the first symbol to be read as a digit).
The regulator approved ELANA Agrocredit bond prospectus on 20 October 2017.
Terms of ELANA Agrocredit bond
It was placed on 15 July 2017 with issue value of EUR 5 260 000. The bond pays 3.20% fixed maturing in 5 years and 3 months. First coupon payment is due 3 months after the date of placement.
Bond issue prospectus is available in Bulgarian language from ELANA Agrocredit.
The prospectus is published also by the broker ELANA Trading.
Over BGN 60 mln. investment was made by the end of September
Only for the month of September ELANA Agrocredit concluded investment in farmland leasing deals at the total of BGN 2 041 472.81 – the latest monthly company newsletter featured.
As of mid-2013, when operations started, till end of September 2017, the company has invested BGN 61 mln. in financial leasing contracts for farmland purchase and business loans for farmers. BGN 55,5 mln. is the value invested in farmland deals, expanding the plots to the total of 6 949 ha. Loans to farmers who have leasing contracts with ELANA Agrocredit increased to BGN 5,5 mln. as of 30 September.
ELANA Agrocredit expects 50% raise of loan portfolio next year
The company started in September reviewing loans and based on the data of new and reviewed loans, a forecast is made that 50% growth of loans portfolio can be expected in the agricultural 2017/2018 year. A total of BGN 8 mln. is to be the size of the portfolio.
Excellent cost management
Based on the successful start of collecting the annual instalments on loans as of 15 September, ELANA Agrocredit management decided to pay in advance the tranche A of EBRD first loan, which is actually with the highest interest rate. 91% of the company clients paid out the installments due.
The first credit line with EBRD was contracted in 2014, and a second one – later in 2016.