Fibank Achieves Historic EUR 310 Million Bond Placement in International Markets

Fibank's Landmark Achievement in International Bond Placement

In a remarkable feat for Bulgarian banking, Fibank (First Investment Bank) has successfully raised EUR 310 million through two bond issues on the international capital markets. This achievement not only sets a record for the bank but also marks one of the most significant international placements carried out by any Bulgarian financial institution in recent years.

The bond package comprises a €250 million issue aimed at fulfilling the Minimum Requirement for Own Funds and Eligible Liabilities (MREL) standards. The success of this placement is underscored by a strong market response, with the order book significantly oversubscribed and demonstrating a bid-to-cover ratio of 1.5. Additionally, the package includes a €60 million bond structured as a hybrid capital instrument, enhancing the bank's debt capital framework.

This international bond issuance signals a growing confidence from global institutional investors in Fibank’s operational sustainability and strategic direction. As emphasized by Mr. Nikola Bakalov, CEO and Chairman of the Management Board, this accomplishment underscores the trust international investors place in Fibank’s solid business model and financial metrics. He noted, “Executing a transaction of this scale is a clear recognition of our sustainable development and a strong statement of trust in Fibank, positioning us firmly in the global capital markets.”

The issuance process was facilitated by Bank of America (BofA), serving as the lead manager for the bond issues and contributing to successfully structuring and placing these transactions. The dual bond issues are set to be traded on the Luxembourg Stock Exchange, a prominent venue for debt instruments on a global scale.

Fibank has established itself as the largest bank with domestic Bulgarian capital, primarily owned by Ivaylo Mutafchiev and Tseko Minev. As of the first quarter of 2026, the bank reported total assets of €10.02 billion, ranking fifth in Bulgaria's national banking system. Its robust capital and liquidity ratios remain well above regulatory requirements, indicating a strong financial foundation.

As Bulgaria continues to integrate into the eurozone, the success of this bond issue serves not only as a testament to Fibank's financial health but also reflects the increasing level of international confidence in the Bulgarian banking sector as a whole. In a competitive market environment, Fibank's ability to secure long-term international capital at favorable terms highlights its strategic position within both domestic and international arenas.

Conclusion

The successful bond placements by Fibank mark a significant milestone, both for the bank and for the Bulgarian banking landscape. It reinforces the vital role of sustainable practices and the importance of maintaining investor confidence in growing market economies. As Fibank moves forward, the implications of this achievement could lead to further opportunities for growth and international partnerships, solidifying its status as a modern and competitive financial institution in the global market.