On 20 May 2004 TBI Leasing AD issued their first secured corporate bond. The issue is collateralised by pledge of receivables and leased assets, and has a nominal value of EUR 2 Mio. Joint-Lead Managers of the issue are Raiffeisenbank (Bulgaria) EAD and TBI Invest EAD. The maturity of the bond is 3 years and pays out a semi-annual coupon of 7.00% p.a. Initially the TBI Leasing corporate bond was launched through a private placement and will be subsequently listed on the Bulgarian Stock Exchange. The nominal value of a single bond is EUR 1000.

Since the beginning of 2003 Raiffeisenbank (Bulgaria) EAD successfully launched and structured 6 mortgage and corporate bond issues as a Lead Manager, with a total nominal value of EUR 29 Mio.
For the last year (2003) TBI Invest EAD was Manager or Co-manager in the placement of 5 bond issues with a total nominal value of EUR 18 Mio