Sofia Airport Modernization Project Secures €450 Million in Financing

Vasil Levski Sofia Airport’s modernization program has secured €450 million in long-term financing from international capital markets, marking a major step forward for the airport’s expansion plans.

The financing package has a 22-year tenor and will help fund the construction of the airport’s new Terminal 3, which is expected to begin in autumn 2026. The investment will also support the modernization of existing airport infrastructure as Sofia Airport prepares for long-term passenger growth and future operational demand.

According to SOF Connect, the investment program is designed to strengthen the airport’s capacity for the next 30 years and reinforce its role as Bulgaria’s key international air transport gateway. The company said the financing reflects strong confidence from international institutional and private investors in the airport’s long-term development and growth potential.

The funding structure combines bank financing with a bond issuance. SOF Connect stated that the transaction includes the first project finance bond for a public-private partnership project in Bulgaria to be issued on a regulated market, Euronext Dublin. Financial partners involved in the transaction include the European Bank for Reconstruction and Development and UniCredit Group.

Jesus Caballero, CEO of SOF Connect, described the financing as an important example of what can be achieved through a successful public-private partnership. He said the company remains committed to developing the airport in the public interest while improving Bulgaria’s connectivity and supporting sustainable economic growth.

SOF Connect also highlighted that the project has been made possible through the transformation of the airport since the start of the concession, with support from Bulgaria’s Ministry of Transport and Communications.

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