Bulgaria's Government to Take A Loan

Bulgaria's Government approved the preparations for issuing state bonds at the international stock market, said the Government press office. 

The Government authorized Finance Minister Petar Chobanov to negotiate with the selected managing banks and the legal consultants, as well as to sign on behalf of the state all necessary documents. 

The BGN 3.9 B loan was envisioned in the 2014 State Budget. Part of the loan will be used for refinancing the USD 1.086 B bonds issued in 2002, whose maturity is in January 2015. 

Another part of the loan will be used for paying off other debts, which expire this year.