tbi bank successfully issued 20M euro bond on the Bulgarian market

tbi bank, one of the leading challenger banks in Southeast Europe offering flexible payment solutions, has successfully issued public bonds of 20 million euro (MREL eligible). The issue was oversubscribed, which allowed it to reach the highest range of the planned amount (from 10 to 20 million), making it the largest bond issued by tbi bank to date.

The issue process was solely managed by the tbi team, and the legal advisor was Tsvetkova, Bebov & Partners (TBP), part of Eversheds Sutherland. The annual interest rate of the bonds is 9% (paid quarterly) with maturity at the end of 2026. However, the bank has the right to redeem the bonds one year earlier.

“We would like to thank all the investors for trusting us with our third-in-a-row bonds issue within 1 year. We are happy to see the rising interest from all types of investors, who recognized our efforts to offer flexible instrument and excellent value from risk-return perspective. The new bond will support our continuous above-the-market growth from a regulatory side”, said Lukas Tursa, Executive Director, tbi bank.

Over the past three years, tbi bank has established itself as the leader in the Bulgarian public bond market, raising a total of 50 million euros through various hybrid capital bonds. The bond will be listed for trading on the Bulgarian Stock Exchange in July.

tbi bank is a challenger bank in Southeast Europe and regional leader in alternative payment solutions, building an ecosystem by combining financing and shopping to address customers’ needs. It focuses on helping merchants to grow their business as well as providing consumers with financial products and services that make their lives easier. Currently operates in Bulgaria, Romania, Greece, Germany, and Lithuania. Through various digital channels and trusted partnerships with over 26 000 merchant locations, tbi has a customer base of over 2 million clients and issued nearly 750,000 loans in 2023. Its business model and customer-focused approach resulted in becoming the most profitable and efficient bank in the region.