Sirma Group Holding signs BGN 9.8m investment loan (POSITIVE)

Sirma Group Holding will receive BGN 9.8m, 4.5-year bank loan at 1.35%+3m SOFIBOR. The loan is collateralized with pledges upon 1) the commercial enterprise of the holding’s largest subsidiary, Sirma Solutions, 2) Sirma Group’s shares in Sirma Solutions and 3) all current/future receivables of the debtor. The objective of the loan is most likely to finance Sirma’s 2022 growth strategy, which involves reduction in the minority stakes of external investors in the holding’s subsidiaries and raising extra capital for R&D, marketing and sales expenses of the daughter companies.