Bulgaria’s Veliko Tarnovo Heating Utility Fails to Get Regulatory Nod for Bond Issue

The heating utility of Bulgaria's Veliko Tarnovo municipality failed to obtain permission from the country's financial regulator to start trading a 2.3 million lev ($1.6 million/1.2 million euro) bond issue, the regulator said.

Toplofikatsia VT plans to issue 2,300 common secured bonds with a nominal value of 1,000 levs each, the Financial Supervision Commission (FSC) said in a statement on Thursday.

It did not provide further details.

Veliko Tarnovo is located in north-central Bulgaria.

Source: SeeNews