According to him, no significant dividends are expected from these projects in the near future and the sale of the shares will help raise money to pay back the city's issue of 100 million leva in Eurobonds which mature next year.
Still, foreign lenders can easily look to alternatives like Eurobonds , and therefore they are able to demand a higher interest rate if the U.S. tries to ‘supply’ too much of its debt.
Bulgaria will issue Eurobonds worth 250 million euros within days, the Finance Ministry announced last Friday.
This will entail a new credit agreement with the IMF and attempts to shift more foreign debt to longer-maturity, lower-interest credit, which will be achieved through the issue of Eurobonds once conditions are right.
Pakistan last visited the international debt market in 1999, with $623 million in Eurobonds due 2005.
Bulgaria is to exchange Brady bonds for new Eurobonds , the Finance Minister announced simultaneously in Sofia and London.
They include Eurobonds with maturity deadlines in 2007 and 2013, as well as US dollar-denominated bonds, payable in 2015.
The annual interest payment of €10.4 million on a €111.6 million Eurobond to finance the village is believed to have forced Bates eventually to sell to Abramovich.
The members of the Bulgarian Constitutional Court decided Tuesday to turn down the petition by 48 MPs against a law ratifying the agreements on the exchange of Brady bonds for a new issue of Eurobonds , signed by the Bulgarian Government.
When the company needed cash in the late 1990s, it issued a Eurobond - long before it was fashionable.