Bulgarian American Credit Bank (BACB) has mandated RZB as lead arranger to arrange its debut E10mn syndicated term loan facility. The facility is for on-lending under SME-related loan schemes to BACB’s customers.
Repayment is as a bullet in a single amount. The maturity is two years, extendable for up to another year at the lender’s discretion. The margin is 2.0% per year.
Participations are: E3mn for co-arrangers, E2mn for lead managers and E1mn for managers.
The facility benefits from an ownership maintenance clause (¥75%) by the Bulgarian American Enterprise Fund of Chicago.
Bulgarian American Credit Bank was incorporated in 1996 and is fully licensed by the “Bulgarian National Bank”. BACB is a wholly owned independent entity of the Bulgarian American Enterprise Fund (BAEF).
BAEF is an US Corporation, registered in 1992 in Chicago and established by the US Congress under the Support for East European Democracy Act (SEED Act) which authorised the US government to disburse up to US$58mn to BAEF for investment and reinvestment in the private sector of Bulgaria. BAEF is managed by independent all volunteer unpaid Board of directors, appointed by the US government.