Bulgaria’s Drujba Glassworks to distribute 6.7 mln euro in 2012 dividend Drujba Glassworks, the Bulgarian unit of Greek glassware and bottle maker Yioula, said on Tuesday it will distribute in dividend a total of 13.1 million levs ($8.6 million/6.7 million euro), or 70% of its 2012 net profit. The shareholders approved today to pay out 0.24 levs per share as gross dividend for 2012, Drujba Glassworks said in a bourse filing. By comparison, the company paid out 0.22 levs per share in 2011 dividend, or a total of 11.8 million levs, allocating the remaining 7.9 million levs to retained earnings. Drujba Glassworks, a leading producer of glass bottles and jars for Bulgaria and the region has two production units, one each in Sofia and the southern city of Plovdiv.
Source: investor.bg (10.07.2013)

Drujba Glassworks JSC convenes an extraordinary meeting on September 20, 2013. The meeting will have to decide on the planned issuance of privileged bonds with a total nominal value of EUR 300 million by Glastank AD Holland (indirect parent company of Drujba Glassworks JSC) and the necessity to empower the Board of Directors of Drujba Glassworks JSC to perform transactions as a result of which to provide security through all or part of the present and future fixed assets and additional corporate guarantees.
Source: money.bg (07.08.2013)

Drujba Glassworks will secure new debt to its owner Drujba Glassworks will secure a new emission of bonds for a company of the group of Greek Yioula, part of which is the Bulgarian company, too. Issuer will be registered in the Netherlands Glasstank, while security from Drujba will include a pledge on all its fixed assets, mortgages on real estates as well as unconditional corporate guarantee. Other companies of the Greek group, including Bulgarian New Glass will participate as warrants of the bond emission. The aim is generated revenues to be used for refunding of debt securities issued in 2005 by Yioula whose maturity is due in the beginning of December 2015. Drujba is one of the warrantors of these securities. This is to allow the Bulgarian company to get bank funding in order to complete its investment program. The issue of Glasstank will amount to no more than EUR 220 million, with interest up to 12% and a term of between 7 and 10 years.
Source: Capital (06.11.2013)