Bulgartransgaz seeks 155 mln euro working capital, investment loan

Bulgartransgaz seeks 155 mln euro working capital, investment loan

Bulgaria's gas transmission system operator Bulgartransgaz is seeking loan financing of up to 155 million euro ($187.4 million) with a repayment term of 6 years, in order to cover its working capital needs and finance investment, it said on Tuesday.

Bulgartransgaz is working on multiple infrastructure projects, including the capacity expansion of the Chiren underground natural gas storage facility, the gas interconnector with Serbia, the participation in the liquefied natural gas terminal near Alexandroupolis and others, the state-owned company said in a statement.

The cost of the financing should be no more than 2.5% annually, Bulgartransgaz noted.

The deadline for submitting offers is March 5.

Bulgartransgaz recently launched a 144 million levs tender for the supply of equipment and construction of Bulgaria's section of the gas link with Serbia and a 5.4 million levs tender for drafting an investment project for the upgrade of the above-ground facilities of the Chiren gas storage facility.

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