Eversheds Sutherland Bulgarian member firm Tsvetkova Bebov & Partners has advised TBI Bank on the issuance of its fifth series of MREL notes.
According to Eversheds Sutherland, the bank placed EUR 60 million in three-year MREL bonds on November 7, 2025, marking the largest MREL issuance on the Bulgarian market this year. The notes will be listed on the Bulgarian Stock Exchange. The notes qualify toward the bank’s minimum requirement for eligible liabilities set by the Bulgarian National Bank.
Earlier in 2025, Eversheds Sutherland advised TBI Bank on EUR 34 million MREL notes and listing (as reported by CEE Legal Matters on August 26, 2025). In 2024, Eversheds Sutherland advised on the third TBI Bank EUR 20 million MREL notes issuance (as reported by CEE Legal Matters on June 27, 2024) and on the bank's second EUR 10 million issuance of MREL Notes (as reported by CEE Legal Matters on February 2, 2024). In 2023, Eversheds Sutherland advised on the first TBI Bank EUR 10 million issuance of preferred MREL bonds (as reported by CEE Legal Matters on July 26, 2023).
The Eversheds Sutherland team included Managing Partner Nikolay Bebov, Partner Damyan Leshev, Counsel Maria Karacholova, and Senior Associate Petar Ivanov.
