Bulgaria's State Consolidation Co to Award 33 Mln Euro Deposit Account Contract

Bulgaria's State Consolidation Co to Award 33 Mln Euro Deposit Account Contract

Bulgaria's State Consolidation Company (SCC) has invited bids from local commercial lenders for the management of a 65 million levs ($43 million/33.2 million euro) short-term deposit account.

When grading the bids, the annual interest rate terms will carry 60% weight, the SCC said in a procurement notice published on the website of the economy ministry. The annual interest rate should be no less than 6.32%, it added.

The candidates should also state their consent or disagreement to increasing to 200 million levs the size of the deposit while keeping the terms unchanged.

The deposit expires on May 30.

The deadline by which bids should be filed is October 19.

The Bulgarian government set up the SCC in 2010, incorporating minority stakes in state-owned firms which it planned to offer for sale as part of its anti-crisis programme.

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