Amendments to Instruction №3 Provision of bank guarantee

Dear IBEX members,

We would like to inform you that by the resolution of the Board of Directors of the Independent Bulgarian Energy Exchange EAD dated 23.11.2023, an amendment has been made to Instruction No. 3 “Provision of Bank Guarantee”. The adopted amendments increase by one notch to Ba1/BB+ (Moody’s/ S&P, Fitch or BCRA) the required long-term credit rating to be held by the banks issuing bank guarantees in favour of IBEX EAD.

The amendments will enter into force on 1.12.2023.

The updated version of Instruction No. 3 “Provision of Bank Guarantee” is available at the following link:, under the PEOR menu.