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MFB lends more than HUF 1 billion to FlyBalaton operator

FB Airport, a unit of property developer SCD that operates the FlyBalaton airport in Sármellék (W Hungary), has signed contracts to borrow a little more than HUF 1 billion from the state-owned Hungarian Development Bank (MFB), business weekly HVG reported in its fresh issue published Thursday.

FB Airport has taken out a HUF 673 million investment loan and a HUF 371 million loan to cover current assets. The investment loan must be repaid by 2025 and has a rate of 3 percentage points over the three-month Euribor. The current assets loan must be repaid by 2015 and has a rate of 5 percentage points over the three-month Bubor.

FB Airport has put up HUF 1.6 billion in collateral for the loan in the form of its stake in FlyBalaton airport.

FlyBalaton expects passenger numbers at the airport to rise to 80,000-100,00 in 2011, up from an anticipated 25,000 in 2010. (MTI-Econews)