July 12 (SeeNews) - Bulgarian financial leasing company Elana Agrocredit [BUL:0EA] said on Thursday it has repaid early the remaining 1.6 million euro ($1.9 million) on the principal of Tranche B of its loan from the European Bank for Reconstruction and Development (EBRD).
Elana Agrocredit used part of the proceeds of a recent capital increase to repay the loan, the company said in a statement.
The loan carried an annual interest of 3.75%.
In April, Elana Agrocredit raised 19.5 million levs via the issuance of 17.73 million shares. As a result, the company nearly doubled its capital to 36.6 million levs from 18.9 million levs.
In October, Elana Agrocredit repaid early 2.3 million euro from Tranche A of the EBRD loan.
Elana Agrocredit offers financing to agricultural producers.
($ = 0.8563 euro)