Are you sure?

Volán seeks lender for HUF 7 bln loan

State-owned bus company Volán has called a negotiated tender for HUF 6.6 billion in loans to purchase 114 buses over a period of two years, the latest issue of the Public Procurement Gazette reveals.

Banks participating in state-owned development bank MFB's Public Transportation Development Credit Program may submit bids to provide the credit. Both the sum of the loans and the number of bus to be purchased with them may be halved.

The loans will have a maturity of 10 years and the interest is at most 4% over the three-month EURIBOR plus the RKK, the refinancing spread of the MFB for the program.

The RKK spread is 2.2% since January 1, 2011. The MFB reviews the spread yearly, and publishes the spread valid for the next year on its website by November 30.

The deadline for submitting bids is July 4.