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MÁV calls tender for Ft 58.5 bln loan

Hungary's state-owned railway company MÁV Rt has called a tender for a Ft 58.5 billion loan it will use to cover its operating costs, according to an announcement in the Public Procurements Gazette. MÁV requires the loan in addition to its funding from the state. The working capital loan is guaranteed by the state according to a September government decision. MÁV is asking bids for the loan in seven installments in order to allow smaller banks to participate in the tender, creating more competition, a spokesman for MÁV said. (Econews; MH 12)