Bulgaria is expected to experience strong activity in the corporate bond market in 2026. One of the key reasons is that several bond issuances initially planned for 2025 have been postponed to 2026. As a result, the upcoming year is anticipated to be a record period for corporate bond offerings.
The list presented reflects currently available information and should not be considered exhaustive. Additional bond issuances are expected to be announced and added throughout the year as market conditions evolve.
| Issuer | Instrument Type | Coupon | Maturity Year | Key Features |
|---|---|---|---|---|
| Elana AgroCredit | Corporate Bond | 3.75% + 6M EURIBOR | 2033 | Amortising structure |
| Sofia Commerce | Corporate Bond | 8.0% (fixed) | 2031 | Bullet maturity |
| ITF Group | Corporate Bond | 11.0% (fixed) | 2028 | Short-term, high-yield |
| Boleron | Convertible Bond | 8.0% (fixed) | 2028 | Conversion option |
| Central Cooperative Bank (CCB) | MREL Bond | 6.0% – 7.0% (expected) | 2030 | Call option |
| TBI Bank | MREL Bond | 6.0% – 7.0% (expected) | 2029 | Call option |
Will Bulgaria AIF Fund Participate in These Bond Offerings?
Bulgaria AIF Fund invests in fixed-income securities in alignment with the profile of Bulgaria Golden Visa investors, who typically prioritize capital preservation and stability over maximum profitability. As such, the Fund is expected to allocate part of its portfolio to selected bond issuances in 2026.
However, the exact allocation size has not yet been determined and will depend on the final terms of each offering, overall market conditions, and the Fund’s broader portfolio strategy.
In addition to corporate bonds, we are also evaluating other regulated investment opportunities that may generate competitive and stable income while maintaining a conservative risk profile.
