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Wolf Theiss advises Bulgarian-American Credit Bank AD on its issue and listing of Subordinated Notes

Vienna, 24 June 2024 – Wolf Theiss advised Bulgarian-American Credit Bank AD as issuer on its issue and listing of EUR 15,000,000 8.00% 2024-2034 Subordinated (Tier 2) Notes (BG2100017248).

On 3 June 2024, Bulgarian-American Credit Bank AD successfully closed the private placement of Subordinated Notes in the aggregate principal amount of EUR 15 million in order to strengthen its equity and diversify the equity composition. The Subordinated Notes were placed with professional clients and eligible counterparties and are governed by the laws of Bulgaria. They have a maturity of ten years with an issuer call right after five years, along with a denomination of EUR 100,000 each.

In this regard, the Wolf Theiss team advised Bulgarian-American Credit Bank AD on the drafting of the terms and conditions of the Subordinated Notes, as well as on compliance with all regulatory requirements and on the drafting of the legal documentation for the private placement of the Subordinated Notes on the Bulgarian market.

Furthermore, the Wolf Theiss team provided Bulgarian-American Credit Bank AD with comprehensive support related to the preparation of a listing prospectus and the corresponding approval procedure with the Austrian Financial Market Authority (FMA). The listing prospectus was approved on 10 June 2024 relating to the admission of the Subordinated Notes to and trading on, the Official Market (Amtlicher Handel) of the Vienna Stock Exchange. The listing took place on 18 June 2024. Moreover, an application may be made to admit the Subordinated Notes to trading on the regulated market of the Bulgarian Stock Exchange.

The Wolf Theiss team consisted of lawyers from our Bulgarian and Austrian offices and was led by Partner Katerina Kraeva and Counsel Nikolaus Dinhof-Renezeder. The team was further supported by Associate Sebastian Prakljacic, Associate Rainer Holweg, Legal Trainee Paola Zgurova and Legal Trainee Peter Marcher.

We are very pleased to have been involved in this important transaction by Bulgarian-American Credit Bank. We thank them for the trust they have placed in us and congratulate them on this successful private placement and listing of the Subordinated Notes“,

added Nikolaus Dinhof-Renezeder.

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