Bulgarian Real Estate Fund Repays Early 20.2 Mn Euro Loans

The company drew the first loan, worth 18.1 million euro, to finance the purchase of a land plot in Sofia last year. The second one was borrowed also last year, to buy an apartment building in ski resort Borovets, BREF said in a filing with the Bulgarian Stock Exchange’s information service X3 News.

The first loan had a seven-year term and the second one was due to mature in late 2012.

BREF shares last traded on Monday when 10 stocks changed hands at 1.13 levs ($0.76/0.57 euro), up 3.18% from Friday’s close.

EFG Eurobank Bulgaria is the local unit of Greek banking group EFG Eurobank Ergasias.

(1 euro = 1.95583 Bulgarian levs)