Project description
and objectives:
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EUR 13 million syndicated bank-to-bank loan for First Investment Bank, a private commercial bank incorporated in Bulgaria. The loan comprises an A-loan portion of EUR 5 million for the EBRD’s own account with the remaining amount financed by participant commercial banks.
Project objectives: The loan will strengthen the funding base of FIB, allowing it to provide term financing to small and medium-sized local enterprises.
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Transition impact:
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The loan will strengthen the funding base of FIB, allowing it to provide term financing to small and medium-sized local enterprises.
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The client:
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First Investment Bank (FIB) was established in August 1993 as a joint-stock company incorporated under Bulgarian law. The largest shareholders in FIB are the European Privatisation and Investment Corporation and the EBRD. Over the past six years FIB has established itself as a full-service corporate bank catering for the emerging private sector in Bulgaria. It has gained a reputation for reliability and innovation. The bank has been gradually expanding its branch network with nine branches at present and 290 employees servicing over 6,000 clients.
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EBRD finance:
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EUR 5 million senior loan (A loan) for the Bank’s own account with three years’ maturity and a repayment option after two years. The remaining EUR 8 million has been syndicated among a number of commercial banks. The maturity of the B loan will be two years with a repayment option after one year.
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Total project cost:
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EUR 13 million
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Environmental impact:
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FIB will continue to carry out its operations in accordance with the EBRD's Environmental Procedures for Local Banks. In implementing these procedures, FIB requires its borrowers to comply, at a minimum, with national/local health, safety, environmental and public consultation requirements.
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Technical
cooperation:
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None
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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EBRD contact:
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Boryana Radeva, Operation Leader: radevab@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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