Bulgarian cabinet approves government securities issue on international capital markets

Bulgaria’s cabinet consented on March 19 2014 to preparations to issue government securities on the international capital markets, a government media statement said.

The cabinet mandated finance minister Petar Chobanov to proceed with preparations and negotiate with selected banks and legal advisers on the transaction and to sign all the documents necessary for the negotiation, organisation and implementation of the issue.

The 2014 Budget Act allows Bulgaria to take on external debt to a sum of 3.9 billion leva (about 1.9 billion euro).

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(Photo: M van den Dobbelsteen/sxc.hu)