Bulgaria’s Central Cooperative Bank (CCB) has mandated HSH Nordbank (facility and documentation agent) and RZB (bookrunner) as mandated lead arrangers to arrange a €10mn syndicated term loan facility on its behalf.

The tenor is 364 days (extendable at each lender’s sole discretion), while the margin is 2.25% per year. There is a single bullet repayment.

Participation levels: €3mn, €2mn and €1mn respectively (co-arranger, lead manager and manager). CCB is directly and indirectly majority controlled by Chimimport JSC (90% of the voting rights). Chimimport is a privately-owned joint stock holding company comprising 13 companies in Bulgaria and three companies abroad.

It is involved in import and export of crude oil, oil derivatives, plastics and plastic products, rubber and rubber products, trade in fertilisers, drugs for human and veterinary medicine, agriculture, storage and processing of grain foods.

Additionally, it is engaged in airline and insurance business.