Creditors of Bulgarian State Railways Co Demand Payment in 45 Days

Business | May 26, 2014, Monday // 16:40| Views: | Comments: 0
  • Send to Kindle
Bulgaria: Creditors of Bulgarian State Railways Co Demand Payment in 45 Days Photo by BGNES

The external creditors of the Bulgarian State Railways company (BDZ) have demanded that the arrears on the second debenture loan of BGN 76 M be covered in 45 days.

At an extraordinary meeting of banks creditors of Holding BDZ EAD on the second debenture loan, they announced that they would take steps to make the entire loan of EUR 88 M chargeable ahead of term unless their condition was met.

BDZ may lose 25 diesel trains and 3407 freight cars, according to Capital Daily.

The participants in the meeting, including a representative of BDZ, assured that the measures would not affect the operational activities of the company.

The company explained that the talks on the renegotiation of the loan were still underway and that the 45-day period for the settlement of arrears could be extended and the stage of selling off a part of the assets could be avoided.

Holding BDZ EAD informed in a statement that it was still expecting an official decision by the European Commission on receiving additional support.

Business » Be a reporter: Write and send your article
Tags: Bulgarian State Railways, BDZ Holding, creditors, European Commission
Advertisement All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (0)
Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria