CIB loans NA Ft 52.8 billion
Thursday, August 4, 2005, 10:43
Hungary's National Motorway Company (NA) has taken out a Ft 52.8 billion loan from CIB Bank Rt to reimburse the state for stretches of uncompleted motorways which have been transferred to a public private partnership (PPP) scheme, according to an announcement in the Public Procurement Gazette, MTI-ECO reported. NA drew the entire amount on June 30. The loan must be repaid by December 15, but NA may pay back some of the loan in installments before then. The loan carries a rate of 0.125% over the five-month BUBOR (currently at 6.47%). HVB Bank Rt and Calyon Bank Hungary Rt also bid to provide the loan.