July 3 (SeeNews) - Bulgarian diversified group Synergon Holding [BUL:6S7] said on Friday that its unit Petromel 1 has taken out a 2.5 million levs ($1.4 million/1.3 million euro) loan from Raiffeisenbank Bulgaria.
Petromel 1 will use the funds to finance its working capital needs, mainly the purchase of wheat, Synergon Holding said in a bourse filing.
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The loan has to be repaid by October 2021.
Synergon Holding was set up in 1996 as a privatisation fund under Bulgaria's voucher privatisation programme. The fund was transformed into a holding structure the following year. It has more than 25 subsidiaries and affiliated companies operating in various sectors of the Bulgarian economy.
(1 euro = 1.95583 levs)