Fibank successfully closed a record-breaking international placement for a Bulgarian bank, raising a total of EUR 310 million across two bond issues
SOFIA, Bulgaria, May 14, 2026 /PRNewswire/ -- Fibank (First Investment Bank) has successfully placed two bond issues on the international capital markets for a total value of EUR 310 million. These are strategic transactions that represent an important milestone in the bank's development and are the most significant international capital placements carried out by a Bulgarian bank in recent years.
The package includes a €250 million bond issue designed to meet the Minimum Requirement for Own Funds and Eligible Liabilities (MREL) standards. Driven by strong market interest, the order book was comfortably oversubscribed with a bid-to-cover ratio of 1.5. The transaction also features an additional €60 million issue structured as a hybrid capital instrument.
Completed with significant interest from international institutional investors, the placement confirms the growing confidence of global markets in Fibank. It highlights the sustainability of the bank's business model, as well as its ability to secure long-term international capital in a highly competitive market environment.
"This is a strategic success for Fibank and a clear recognition from international investors of our sustainable development, consistent policy, and stable financial metrics. Executing a transaction of this scale and structure sends a strong signal of trust in Fibank, cementing our position as a modern, competitive financial institution in global capital markets. Furthermore, this success is a testament to the entire Bulgarian banking sector and reflects growing international confidence following Bulgaria's eurozone integration," commented Mr. Nikola Bakalov, CEO and Chairman of the Management Board of First Investment Bank.
The EUR 250 million tranche aligns with MREL regulatory criteria, while the EUR 60 million tranche is structured as a hybrid instrument for the bank's Tier 1 capital.
Both issues are slated for admission to trading on the Luxembourg Stock Exchange, a leading global platform for debt instruments.
Bank of America (BofA) acted as lead manager for the issues, supporting the successful structuring and placement of the transactions with international institutional investors.
First Investment Bank remains the largest bank with domestic Bulgarian capital, founded and majority-owned by Ivaylo Mutafchiev and Tseko Minev. At the close of the first quarter of 2026, Fibank ranked fifth in the national banking system with assets totaling EUR 10.02 billion. As of March 31, 2026, the bank continues to report robust capital and solid liquidity ratios exceeding regulatory requirements.
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