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Budapest transport company invites bids for HUF 5 bln in loans

MNB

Budapest public transport company BKV has invited bids in a negotiated procedure for one HUF 3 billion and another HUF 2 billion mid-term general purpose loan, the financial daily Napi Gazdaság reported on Thursday.

The loans may carry a state guarantee, depending on a decision by the government.

Bidders are invited to express interest until August 15.

The contracts would take effect on October 10.

The government plans to take over debts of public transport companies BKV and MÁV this year according to its structural reform plan dubbed the Széchenyi plan announced in the spring. BKV owed banks HUF 75 billion at the end of last year.

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