Банкеръ Weekly

Briefs

PROSOFT PREPARED THE GROUNDS FOR A NEW ISSUE

The IT company ProSoft made the first coupon payment on its second bond issue. The total amount received by the debt papers' owners was BGL100.25. They were entitled to either receive the amount in their personal bank accounts in any licensed bank, or get their interests from the Post Bank branches. The amount paid by the company represents 5% of BGL2.005MN, which is the nominal value of this issue. Bonds were offered to the investors on July 18, 2000, with 18 months term-to-maturity and 10% annual interest.
Currently in circulation are papers of the first ProSoft bonds issue, launched in July 1999, with face value being BGL270,000. Payments on this loan are made each August 6 since 2000 till 2004. In December 2000 ProSoft took a decisive step towards materialising the intentions for attracting foreign investors, announced by the company owners - the Julian and Atanas Genovy brothers. The company capital was increased from BGL2.388MN to BGL23.847MN. 55% of the shares are owned by Julian Genov. ProSoft is expected to place a minority stake for initial public offering at the stock exchange. International Commercial Bank and the investment intermidiary Elana are working on the new issue. According to forecasts it will be released this autumn.

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