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MÁV announces tender for loan

Hungarian railway company MÁV Rt has invited a tender for a state-guaranteed Ft 58.5 bln loan to top up its current assets, reported the Public Procurement Gazette. The loan would be taken out in several chunks so that minor banks can also apply and thus to make the bidding more competitive. The tender is open for international banks not having HQs in Hungary. MÁV plans to take out alternately Ft 4 bln and Ft 6 bln, with the last block expected to be Ft 28.5 bln. The deadline for applications to participate and for the offers is November 2.