Categories: en_US
      Date: 06 06 2019
     Title: NECA Advises MHTB on its Refinancing

Magnetic Heads Technologies (Bulgaria) AD (MHTB) has completed the refinancing of its senior credit lines.

NECA advised MHTB on the refinancing, which was provided by Tokuda Bank AD. The refinancing resulted in improved loan terms for MHTB and a substantial increase in total credit lines.

NECA's mandate included identifying and approaching appropriate Bulgarian banks, coordinating the application process and know-your-customer (KYC) checks, and commercial advice on the loan terms and documentation.

MHTB, a world leader in the manufacturing of magnetic heads, is a subsidiary of US-based Global Manufacturing Industries (GMI). "We're very pleased to have worked with NECA on our refinancing, which has accelerated our growth," said GMI Chairman Maxwell Schwartz. "[NECA Partner] Ken Lefkowitz guided us through a strict KYC process under the new Bulgarian regulations, which are quite challenging for non-EU companies such as ourselves."