Bulgartransgaz EAD has launched a procedure for raising financial resource

Announcement Date: 05.06.2020
Document buy date: 30.06.2020
Submission date: 30.06.2020

Bulgartransgaz EAD has published an invitation to tender for bank financing in the form of a credit to cover its operating and investment costs.

The realisation of key projects is in progress, such as Balkan Stream, the interconnection Bulgaria -Serbia, the expansion of capacity of the underground gas storage facility Chiren, and the construction of transmission gas pipelines providing more access to natural gas to industrial and household consumers in Bulgaria.

The objective of the procedure is to raise financial resources for the realisation of the corporate investment programme, designed to diversify the sources, increase the security of gas supply and position our country to become a gas distribution centre in the region.

Within the procedure Bulgartransgaz EAD aims to attract up to EUR 400 million with a repayment term of 6 years. The lowest price, offered by the selected contractors for the realisation of the Balkan Stream project, namely 3,9% annually, serves as a benchmark for the price of the financial resources that are to be raised. A key condition of the procedure is therefore the price of the financing to be lower than 3,9%. Raising funds at a lower price will enable the company to reduce its project implementation costs through both early payments of some of the due amounts to the contractors, and lower price of the financing.

The funds will also be used for the realisation of the other key projects of the company aimed at increasing the diversification of the sources, the security of gas supply and the establishment of competitive and transparent natural gas market in the country.

The deadline for offers' submission is 5 p.m. on 30.06.2013.

Additional information can be found on the internet site of Bulgartransgaz EAD – www.bulgartransgaz.bg

You can download the invitation from here