The European Bank for Reconstruction and Development (EBRD), Eversheds Sutherland and the European Covered Bond Council (ECBC) cordially invite you to the half-day conference ‘Covered Bonds in Bulgaria: Opportunities for Market Development ’, which will be held on 21 March 2023, at the Hyatt Regency Sofia, commencing at 2 pm.
On 29 March 2022 the new Bulgarian Covered Bonds Act was published in the country’s State Gazette. It is in force as of 8 July 2022. The Covered Bonds Act transposes the EU’s Covered Bonds Directive (EU) 2019/2162 and was prepared as part of a legislative project initiated by the Bulgarian Ministry of Finance supported by technical assistance from the EBRD.
The new Covered Bonds Act repeals the Mortgage Bonds Act and establishes a comprehensive legal framework for the issuance of covered bonds and their supervision by the Bulgarian National Bank, which follows best international practice and applicable EU law.
A year after the adoption of the Bulgarian Covered Bonds Act, the conference will take stock of developments in the global covered bonds market, present the Bulgarian legal framework and practical guidance on the issuance of covered bonds, and discuss the opportunities for both issuers of and investors in this novel instrument in Bulgaria.
Agenda
14:00 – 14:30 Opening Remarks and Introduction
Anca Ioana Ionescu, Director, Head of Bulgaria, EBRD
Snejanka Koleva, Director, Financial Markets Regulation Directorate, Ministry of Finance, Bulgaria
Luca Bertalot, Secretary General, European Mortgage Federation, ECBC
14:30 – 14:55 The Bulgarian Covered Bonds Act: A User Guide
Rada Tomova, Associate Director, Regional Policy Partnerships, Capital and Financial Markets Development, EBRD
Nikolay Bebov, Managing Partner, Eversheds Sutherland
Petar Ivanov, Senior Associate, Eversheds Sutherland
14:55 – 15:15 How to Make a Covered Bond
Richard Kemmish, Consultant to the EBRD
15:15 – 15:30 Coffee Break
15:30 – 15:50 Credit Rating of Covered Bonds
Dr. Stanislav Nastassine, Vice President, Senior Analyst, Structured Finance Group, Moody’s
15:50 – 16:20 Investor Demand for Bulgarian Covered Bonds
Patrick Seifert, Head of Primary Markets & Global Syndicate, Landesbank Baden-Württemberg
16:20 – 17:00 Prospects for Market Development of Bulgarian Covered Bonds
Moderator: Richard Kemmish, Consultant to the EBRD
Rada Tomova, Associate Director, Regional Policy Partnerships, Capital and Financial Markets Development, EBRD
Peter Ivanov, Bulgarian National Bank, Head of Financial Markets Division
Pavel Sokolov, Head of Treasury, United Bulgarian Bank
Svetoslav Velinov, Head of Global Markets, DSK Bank
Damyan Leshev, Partner, Eversheds Sutherland
Luca Bertalot, Secretary General, European Mortgage Federation, ECBC
17:00 Networking Reception
For more information, please contact Borbala Siklos at siklosb@ebrd.com or Rada Tomova at tomovar@ebrd.com
