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Bulgarian Railways repay EUR 4.6 mln on bond in May

Bulgarian state-operated railway holding company BDZ repaid in May approximately 9.0 million levs ($6.3 million/4.6 million euro) on a 120 million euro bond, BDZ said on Monday.

Currently, the company owes bondholders a further 76 million levs in overdue payments, a company spokesman told SeeNews.

Last week, the holding company said it would put up for sale railcars and non-operating wagons to cover debt to bondholders.

Also last week a transport ministry spokesperson said BDZ plans to cut its debt by 50 million levs by the end of 2014, adding that the holding company’ liabilities amount to 605 million levs.

Source* http://wire.seenews.com

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