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Bulgaria's Synergon Holding units borrow further 1 mln euro from Raiffeisenbank

Author Mario Tanev
Bulgaria's Synergon Holding units borrow further 1 mln euro from Raiffeisenbank Author: Synergon Holding / All rights reserved.

SOFIA (Bulgaria), November 6 (SeeNews) - Bulgarian diversified group Synergon Holding [BUL:6S7] said on Wednesday that two of its units have borrowed an additional 2 million levs ($1.1 million/1.0 million euro) from local lender Raiffeisenbank.

Synergon Hotels and Synergon Energy increased the size of their loan from Raiffeisenbank to 16 million levs, Synergon Holding said in a bourse filing.

The two companies also pledged further assets as collateral.

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)

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