Bulgaria raises 290 mln euros to finance budget shortfall
SOFIA Dec 14 (Reuters) - Bulgaria has raised 290 million euros ($398.18 million) in private placement Schuldschein loans to finance its budget shortfall, the finance ministry said in a statement on Saturday.
Last month, the parliament has approved a deal that allows Deutsche Bank and Raiffeisen Bank International to arrange the loan, a traditional German debt instrument that Bulgaria, a European Union member, will be using for the first time.
The loan deal entails tranches of seven, 10 and 15 years paying fixed-rate interest rates. ($1 = 0.7283 euros) (Reporting by Angel Krasimirov Editing by Jeremy Gaunt.)
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