FIB HAS PAID EUR10MN TO FOREIGN BANKS
First Investment Bank (FIB) has repaid two thirds of the EUR15MN loan, received from a consortium of international banks two years ago. On August 6, 2001 FIB paid EUR10MN to Raiffeisen Zentral Bank, which distributed the money among the other members of the consortium. FIB will pay the remaining EUR5MN of its debt in a year to the European Bank for Reconstruction and Development (EBRD).
Under the agreement for the loan, signed on August 6, 1999,the group headed by Raiffeisen Zentral Bank extended to the Bulgarian credit institution a loan of EUR10MN for a term of two years. The consortium included also BULBANK and BNP-Dresdnerbank (Bulgaria), as well as Germany's Bank Kreiss and Landesbank Schleswig - Holstein International.
Under the same contract, FIM borrowed EUR5MN from the EBRD, repayable after three years.
The EUR15MN loan was the second one, lent to FIB by a consortium of foreign banks. In 1998 the Bulgarian financial institution was allocated a one-year credit of USD10MN by London Forfaiting,
Bank Kreiss, BNP-Dresdnerbank (Bulgaria), West Merchant, Baden Wurttembergische Bank, Bank Polska Kasa Opieki S.A. - Pekao S.A. Group, Bayerische Landesbank Girozentrale and Landesbank Schleswig-Holstein International. FIB did not have any problems in repaying the credit in the summer of 1999.