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Bulgarian Bonds: Repurchase

Volume 489: debated on Thursday 29 October 1987

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asked Her Majesty's Government:What is now the position in respect of bond claims by United Kingdom nationals against the Government of Bulgaria.

The British Government and the Bulgarian Government signed an agreement on 16th September relating to final repurchase of certain bonds of foreign public loans of the Principality of Bulgaria and the Kingdom of Bulgaria held by United Kingdom nationals.In accordance with the agreement the Bulgarian Government have nominated the National Westminster Bank to repurchase from persons who were United Kingdom nationals on 16th September 1987 the following bonds at the following rates:

LoansNominal value of BondPayment
(A) FOREIGN PUBLIC LOANS
6% State Mortgage Loan 1892Gold Francs 500Fr Fr 35
5% Bulgarian State Gold Loan 1902Gold Francs 500Fr Fr 35
5% Bulgarian State Gold Loan 1904Gold Francs 500Fr Fr 35
4½% Bulgarian State Gold Loan 1907Gold Francs 500Fr Fr 35
4½% Bulgarian State Gold Loan 1909Gold Francs 500Fr Fr 35
6½% Bulgarian State Loan 1923Fr Fr 500Fr Fr 35
7% Settlement Loan 1926
Sterling Issue£ Sterling 100£ Sterling 40
US dollar issueUS Dollars 500US Dollars 35
7½ Stabilisation Loan 1928
Sterling issue£ Sterling 100£ Sterling 40
US Dollar issueUS Dollars 500US Dollars 35
French IssuePoincaré Fr 2,500Fr Fr 175
(B) FOREIGN PUBLIC GUARANTEED LOANS
5% Bulgarian Loan 1896Gold Francs 500Fr Fr 35
5% Loan Municipality of Sofia 1906Gold Francs 500Fr Fr 35
5% Loan Municipality of Varna 1907Gold Francs 500Fr Fr 35
4½% Loan Municipality of Sofia 1910Gold Francs 500Fr Fr 35

and so in proportion for bonds denominations.Copies of the offer and the appropriate Form of Acceptance may be obtained from the paying agent: National Westminster Bank plc, Stock Office Services, National Westminster House, Station Way, Crawley, West Sussex RH10 1JE.The offer remains open for acceptance until 15th October 1989.