Bulgaria Signs Schuldschein Loan Accord With Deutsche Bank
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Bulgaria signed an agreement with Deutsche Bank AG to raise 360 million euros ($487 million) in so-called Schuldschein loans to service debt and increase its fiscal reserves.
The agreement, which must be ratified by parliament, will enable the cabinet to tap 7-year, 10-year and 15-year credit lines from institutional investors, the Finance Ministry said in an e-mailed statement today from the capital Sofia. Deutsche Bank and Raiffeisen Bank International AG are managing the transaction, the ministry said. Schuldschein loans are promissory notes issued privately under German law.