Bulgaria's Bulgargaz to draw 3.6 mln euro credit - media

The loan will have an annual interest rate of 5.0%, local business newspaper Capital Daily reported.

Last month Bulgargaz cancelled a tender to select banks to provide it with revolving credit lines worth up to 139 million levs in total after it failed to attract any bids. The company did not say how it planned to spend the proceeds from the credits.

Earlier this month, an official of a unit of state-owned Bulgarian Energy Holding (BEH), Bulgargaz's parent company, said the holding company intends to provide a short-term loan to  Bulgargaz to pay its liabilities to Russian gas giant Gazprom. He said at the time that Bulgargaz has to pay $100 million to Gazprom by the end of December, including $50 million in  overdue payments.

D Leasing was set up at end-July 2014 and is 100%-owned by D Commerce Bank. The bank's majority owner is Turkish businessman Fuat Guven.

(1 euro = 1.95583 Bulgarian levs)