Budapest Public Transport Company (BKV) to refinance credits

Budapest mayor István Tarlós has signed a “stand still” agreement with nine banks lending to the Budapest Public Transport Company (BKV) that allows the refinancing of HUF 63.1 Billion (EUR 213.3 Million).

The agreement was signed based on a guarantee by the city of Budapest and the state.
The government decided on the guarantee last week after the local council voted to guarantee BKV’s debt in full and to provide it with a further HUF 5 Billion (EUR 17 Million).

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