Sofia Tech Park Seeks to Borrow 47.4 Mln Euro

Sofia Tech Park Seeks to Borrow 47.4 Mln Euro

Sofia Tech Park, a state-run Bulgarian company in charge of the construction of a high-tech park in the country's capital, is seeking a bank to provide it with two loans worth a combined 92.7 million levs (47.4 million euro) to implement the project, a tender notice indicated.
One loan, worth 77.8 million levs, will be secured with assets owned by the company, and for the other one, worth 14.9 million lev loan, the company will pledge accounts receivable, Sofia Tech Park said in a notice published on Wednesday on the website of the Public Procurement Agency.
The 28-month loans will have a floating interest rate equal to three-month SOFIBOR plus allowance, but not greater than 5.5% per year, the notice indicated.
Earlier on Thursday, Sofia Tech Park broke ground on the construction of the 270,000 square metre park, estimated at 100 million lev.
The project is co-financed by the EU.
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