March 26 (SeeNews) - MVB Truck & Bus Bulgaria, the official importer of Germany's MAN Truck & Bus for the Bulgarian market, has taken out an 811,127 levs ($468,000/415,000 euro) loan from local lender Central Cooperative Bank (CCB) [BUL:4CF], with an annual interest of 35%, commercial register data shows.
The entire company has been pledged as collateral for the loan, documents entered into the commercial register on Monday, showed.
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MVB Truck & Bus Bulgaria had 17.3 million levs of outstanding obligations in relation to previous loans from CCB at the end of 2017, according to the company's latest available annual financial statement.
Last year, MVB Truck & Bus Bulgaria invested 8 million levs in a new service centre in Plovdiv, which spreads on 11,000 sq. m.
MVB Truck & Bus Bulgaria has been an official importer of MAN Truck & Bus since 2012.
(1 euro = 1.95583 levs)
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