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Bulgaria's Compass Receivables Fund seeks SPE license

Author Mario Tanev
Bulgaria's Compass Receivables Fund seeks SPE license Financial Supervision Commission/All rights reserved.

SOFIA (Bulgaria), November 15 (SeeNews) - Bulgaria's Financial Supervision Commission (FSC) said that it has asked local Compass Receivables Fund to provide additional information and documents regarding its request for receiving a license to act as a special purpose entity (SPE).

Compass Receivables Fund intends to specialise in debt securitisation, the FSC said in a statement on Thursday.

The company is also seeking approval of a prospectus for listing on the Bulgarian Stock Exchange, as all SPEs are obliged by law to do so.

Compass Receivables Fund, established in June, has a registered capital of 500,000 levs ($282,000/256,000 euro), according to commercial register data.

(1 euro = 1.95583 levs)