Republic of Bulgaria (BGGV)

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Republic of Bulgaria (BGGV)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	SSA	PRCD	BGGV	Republic of Bulgaria	€3,200		2	EMEA	Jul 15, 2025

Tranche #1Republic of Bulgaria

currency

EUR

size (m)

2,000.000

maturity

Jul 18, 2035

type

Fixed

tenor

10.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa1

s&p

fitch

BBB+

size description

re-open/tap

ipt

MS+135 a

ipt-pxd

guidance

MS+100-105

spread

coupon

3.375%

spread set

price

97.83600

yield

3.637%

book size (m)

7,600

peak book (m)

x-covered

3.8

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

7,600

peak book (m)

x-covered

3.8

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #2Republic of Bulgaria

currency

EUR

size (m)

1,200.000

maturity

Jul 18, 2045

type

Fixed

tenor

20.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa1

s&p

fitch

BBB+

size description

re-open/tap

ipt

MS+180 a

ipt-pxd

guidance

MS+150-155

spread

145

coupon

4.125%

spread set

price

96.88000

yield

4.362%

book size (m)

5,000

peak book (m)

x-covered

4.17

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

5,000

peak book (m)

x-covered

4.17

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

10 yr: Book size: 7600; Registration: Reg S Only; Comments: EUR2bn 10yr cpn 3.375% at 97.836, yld 3.637%. Spred: MS+95bps. DBR 2.6 08/15/35 + 91.9/ 98.97% / 2.718% (HR 94%). LEI: 529900PG0XCL4LICL838; 20 yr: Book size: 5000; Registration: Reg S Only; Comments: EUR1.2bn 20yr cpn 4.125% at 96.880, yld 4.362%. Spred: MS+145bps. DBR 2.5 07/04/44 + 124.9/ 91.32% / 3.113% (HR 96%). LEI: 529900PG0XCL4LICL838;

Use of Proceeds

Refinancing of existing debt and general corporate purposes

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Republic of Bulgaria (BGGV)

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