The Initial Public Offering of bonds (ISIN BG 2100003016) of United Bulgarian Bank was successfully launched on 20 May 2002. The subscription period will end on 17 June 2002. The place of the offering is the Primary market of Bulgarian Stock Exchange (BSE). 

The maximum principal amount of bonds that we will issue is BGN 15 000 000 (fifteen million Bulgarian leva). The bonds will be issued in registered form, in multiples of BGN 1 000 (a thousand Bulgarian leva). The bonds will be issued in "book entry" form, represented by a certificate (depository receipt) in the name of the bondholders, issued by the Central Depository. The initial offering price of the bonds is equal to the face value (BGN 1 000).

We will pay interest on the bonds periodically at an annual rate of 7.5% from the date of issuance. Interest will be payable semiannually to the persons in whose names the bonds are registered at the close of business three days prior to the coupon date. The bonds will be redeemed in whole at maturity at par value.

Orders to buy bonds of the current issue can be placed (and paid for) by the investment intermediaries-members of BSE each working day from the subscription period.

The terms of the IPO are described in the Prospectus for Public Offering of Bonds of United Bulgarian Bank, approved by the Bulgarian National Securities Commission N64-E/24.04.2002.

The Prospectus is available to potential investors on the Bank's webpage and in Treasury Division at 5, Sveta Sofia Street, Sofia 1040; Tel: +359 2 811 2421.