Summary:
- Sofia Airport Terminal 3 financing secures €450m from international capital markets to fund construction and major infrastructure upgrades.
- Long term airport development supports capacity growth and modernisation over the next 30 years following the concession award.
- International investor confidence strengthened through a landmark PPP backed financing structure, including Bulgaria’s first project finance bond.
Vasil Levski Sofia Airport has secured €450 million financing from international capital markets for the construction of a new Terminal 3, which is scheduled to commence in the fall of 2026, as well as for the modernisation of the existing airport infrastructure. The planned investments will secure the capacity required to meet the airport’s needs and support its growth over the next 30 years.
The confirmed commitment of international institutional and private investors demonstrates confidence in the project’s sustainable development following the award of the concession, as well as in the airport’s growth potential. The raised financing is a strong signal to the Bulgarian economy at a pivotal moment after the country joined the eurozone and further enhances the macroeconomic and financial reputation of Bulgaria as a credible destination for long-term infrastructure investors.
“This landmark financing is a powerful illustration of what can be achieved through a successful public-private partnership,” said Jesus Caballero, CEO of SOF Connect. “As a long-term partner of the Bulgarian state, our company is fully committed to developing the airport in the public interest. By investing with a long-term vision, we are strengthening Bulgaria’s connectivity, expanding economic opportunity and contributing meaningfully to the country’s sustainable development for decades to come.”
The financing is structured through a combination of banking financing and a bond issuance, the first project finance bond of a public-private partnership project in Bulgaria to be issued on a regulated market (Euronext Dublin). It brings together a diversified group of leading international investors and financial partners, among which are the European Bank for Reconstruction and Development, and UniCredit Group.
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