Bulgaria's Elana Agrocredit signs 7.7 mln euro loan deal with Expressbank

Bulgaria's Elana Agrocredit signs 7.7 mln euro loan deal with Expressbank

Bulgarian financial leasing company Elana Agrocredit  said on Tuesday that it has signed a 15 million levs ($8.4 million/7.7 million euro) loan deal with local bank Expressbank.The loan comprises a revolving credit facility of up to 5 million levs and an investment loan of up to 15 million levs for funding the expansion of the company's leasing portfolio, Elana Agrocredit said in a statement.The revolving credit line has to be repaid within 2 years of the contract signature date, while the investment loan can be repaid 8 years after the signing of the deal.The revolving credit line has an interest equal to Expressbank's reference interest rate plus 2.20%. The investment loan bears a fixed annual interest of 2.79%, or an interest equal to Expressbank's reference interest rate plus 2.25%.At the time of the contract signature date, Expressbank's reference interest rate was 0%.Elana Agrocredit has financed farm land acquisitions worth some 6.1 million levs so far this year.

Previous Next
Close
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.