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Tsvetkova Bebov & Partners Advises on Allianz Bank Bulgaria’s Issue of Senior Preferred MREL Bonds

Tsvetkova Bebov & Partners Advises on Allianz Bank Bulgaria’s Issue of Senior Preferred MREL Bonds

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Tsvetkova Bebov & Partners (member of Eversheds Sutherland) has advised on Allianz Bank Bulgaria’s issue of senior preferred MREL bonds.

Allianz Bank Bulgaria is the eighth largest bank in Bulgaria with total assets of EUR 2 billion, with a market share of 2.4% as of year-end 2022.

According to Tsvetkova Bebov & Partners, “Allianz Bank Bulgaria, part of the global insurance and financial group Allianz, issued in late March 2023, in a private placement, EUR 39.5 million [in] senior preferred notes, maturing in March 2027. The notes contribute to the minimum requirement for eligible liabilities (MREL) of Allianz Bank Bulgaria, as set by Bulgarian National Bank. UniCredit Bulbank acted as the lead manager.”

According to the EBRD, “the project facilitates capital market development in Bulgaria, supports the resilience of ABB, and helps to deliver the EBRD's green agenda in the country and national green economy priorities.”

Bulgaria’s Eversheds Sutherland member firm Tsvetkova Bebov & Partners’ team included Partners Damyan Leshev and Nikolay Bebov, Counsel Maria Karacholova, and Senior Associate Petar Ivanov.

Bulgaria Knowledge Partner

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 15 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu

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