Bulgaria’s Corpbank facing bond repayment deadline

Published August 7, 2014 5:07pm ET



SOFIA, Bulgaria (AP) — At the end of its first week in office, Bulgaria’s interim government is facing its first serious challenge with the expectation that the Corporate Commercial Bank, or Corpbank, won’t repay a $150 million bond maturing this Friday.

If it doesn’t, then Bulgaria’s fourth-biggest lender will have defaulted on its bonds, further fueling the economic and political crisis in the European Union’s poorest country.

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