October 25 (SeeNews) - Bulgaria's Fibank [BUL:5F4] has agreed to open a 24 million levs ($13.33 million/12.28 million euro) credit line for local consumer electronics retailer Technomarket, data from the country's commercial register indicated on Tuesday.
The credit line will be divided in two equal tranches. Funds from the first one will be allocated to bank guarantees and letters of credit, while the second one will be working capital overdraft.
Technomarket has put as collateral goods in stock worth 47 million levs, trademarks owned by the company as well as current and future receivables.
(1 euro = 1.95583 levs)