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MÁV calls tender for working capital loans

State-owned Hungarian railway company MÁV has called a tender for HUF 4 billion and €2 million of working capital loans, the latest issue of the Public Procurement Gazette reveals.

The loans will refinance expiring working capital loans.

In order to encourage more competition among bidders, MÁV is calling the forint loans in two parts: one for HUF 1.7 billion and the other for HUF 2.3 billion.

MÁV had short-term loans of HUF 11.4 billion on June 30, 2009. Its long-term debt came to HUF 208.9 billion. (MTI-ECONEWS)