SOFIA (Bulgaria), February 23 (SeeNews) - Bulgarian drug maker Tchaikapharma High Quality Medicines [BUL:7TH] said that its shareholders have approved its plan to borrow up to 14 million euro ($17.2 million) in order to finance the construction of a new production plant just outside Sofia.

The proposal was supported by all shareholders present at the meeting, representing 99.88% of the total voting rights, Tchaikapharma said in a stock exchange filing on Monday.

The loan, to be provided by local lender United Bulgarian Bank (UBB), will have an interest rate of between 2% and 3%. The eight-year loan agreement will have a three-year grace period.

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Tchaikapharma High Quality Medicines AD published this content on 23 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2021 08:41:02 UTC.