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BILLBOARD AD entered into an Investment Loan Agreement with the Bulgarian Development Bank AD
2015.03.20

BILLBOARD AD entered into an Investment Loan Agreement with the Bulgarian Development Bank AD (BDB) with UIC: 121856059 in the amount of EUR 3 250 000 (three million two hundred and fifty thousand euros), to be used for a partial refinancing of the credit exposure of BILLBOARD AD in EBRD (European Bank for Reconstruction and Development), according to the Loan Agreement dated 20.12.2012, including, but not limited to bank charges for early repayment, as well as for the internal debt structuring between BILLBOARD AD and its subsidiary DEDRAX AD, which is a joint debtor under the Loan agreement. The loan was granted for a period of 120 months / 10 years / as from the date of signing the Loan Agreement with interest on the outstanding loan amount of 3M EURIBOR + allowance equal to the 4.20 points, but not less than 6.20% per year. The collaterals provided to receive the loans include pledge on the commercial enterprise of BILLBOARD AD as an aggregate of rights, obligations and factual relations; pledge on current and future receivables on the accounts of BILLBOARD AD in the "Bulgarian Development Bank" AD (for the loan amount); pledge on the shares from the capital of BILLBOARD AD hold by Stefan Genchev, Kalin Genchev, Vassil Genchev and Veneta Gencheva as well as a pledge on the commercial enterprise of DEDRAX AD with individualized tangible fixed assets under an inventory.

The transaction does not fall in the scope the provisions of Art. 114, para 1 of the Law on Public Offering of Securities, interested parties within the meaning of Art. 114, para. 6 of the Law on Public Offering of Securities are not involved and the provision of Art. 114, para. 9 of the Law on Public Offering of Securities is applicable thereof.

The credit financing from the Bulgarian Development Bank AD and additional funds shall be used by BILLBOARD AD to fully early repay its credit exposure in the EBRD (European Bank for Reconstruction and Development), according to the Loan Agreement dated 20.12.2012.

 
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