At the end of March, Allianz Bank Bulgaria successfully issued its first issue of senior preferred bonds structured to qualify as minimum requirements for eligible liabilities (MREL) under the provisions of Chapter XIII, Section II of the Recovery and Resolution of Credit Institutions and Investment Firms Act. UniCredit Bulbank AD was the Lead Manager of the bond issue. The main investors in the transaction are the European Bank for Reconstruction and Development (EBRD), ZAD Allianz Bulgaria and ZAD Allianz Bulgaria Life.
The bond has a nominal value of EUR 39.5 million, maturing in March 2027 with a call option after the third year. The bonds are expected to be listed for trading on the Bulgarian Stock Exchange within six months of issuance.
The EBRD participation is directly linked and will be used for financing of sustainable projects, in line with EBRD’s Green Economy Transition approach. This investment contributes to the delivery of EBRD's green agenda in the country and national green economy priorities.
Allianz Bank plans to issue a second tranche of MREL-eligible bonds by the end of 2023.
Allianz Bank solidifies its position as a dynamic bank offering attractive individual solutions to its customers in the Bulgarian market. It is part of the global financial group Allianz SE and is in the top 10 banks in Bulgaria. Allianz Bank has a long-term credit rating of BBB+ with a stable outlook, confirmed by Fitch on 13th July 2022.