Raiffeisenbank Bulgaria (RBBG) bought more than 42 % - a total of EUR 1,266,000 - of the bond issued by the City of Varna and was by far the biggest investor in this issue. This confirms once again RBBG’s leading role in the Bulgarian fixed income market.

RBBG generally regards municipal bonds as an area of major importance for the further development of capital markets in Bulgaria. It was also a significant investor in the City of Sofia Eurobond some time ago and considers further projects in the area.

RBBG is one of the leading security traders in Bulgaria and notes growing interest among its institutional and private customers for these kinds of bonds. Apart from municipal bonds RBBG has traditionally also been a major participant in mortgage bond issues and is now considering various projects in the corporate bond market. Raiffeisenbank Bulgaria believes that this will be the next important step in the further diversification of debt instruments in local and in foreign currencies in Bulgaria.