The Dutch parent holding company of the EEEC - EEEC II B.V., the indirect owner of the EEEC group’s regulated Bulgarian electricity business, has prepaid and fully discharged its HoldCo Credit Facility, dated 3 June 2024 and maturing on 11 September 2029.
The amount of c. EUR 75.8 mm was prepaid on 24 June 2026 that includes the total principal and accrued interest under the HoldCo Credit Facility.
The repayment was financed by the group’s ultimate parent, Eurohold Bulgaria AD, through a combination of an intra-group loan repayment (c. EUR 44.8 mm), an equity contribution (c. EUR 17.2 mm) and a new shareholder loan (c. EUR 19 mm) with 60-month tenor.
As an effect on the group’s capital structure the transaction reduces debt at the parent HoldCo level by replacing the senior secured HoldCo Credit Facility of approximately EUR 75.5 million with a materially smaller subordinated, unsecured shareholder loan of approximately EUR 19.0 million which in turn lowers Net Debt/EBITDA at the EEEC II level and pushes the shareholder loan’s maturity beyond that of the Notes. The new shareholder loan at the level of the Dutch parent EEEC II B.V. ranks below the Notes obligations and will be serviced in accordance with the permitted restrictions under the Notes in respect of the permitted payments.