Bulgaria Mulls over 360 Mln Euro Syndicated Loan from Foreign Banks
Monday, 23 September 2013
The Bulgarian government may take out a 700 million lev ($486.72 million/360 million euro) syndicated loan from foreign banks by the end of the year, finance minister Petar Chobanov said.
The government has begun preliminary talks with several banks, including German lenders, Capital weekly quoted Chobanov as saying.
An intermediary bank will be selected through a tendering process.
The government will spend the money to implement its 2013 debt policy, Chobanov explained.
Local banks provide only short-term loans.
At the end of 2017 Bulgaria is due to repay over 5.0 billion levs of debt.