Ministry of Transport, Information Technology and Communications

The active dialogue with the creditors of Holding BDZ EAD continues as today the Deputy Prime Minister Ekaterina Zaharieva and the Minister of Transport, information Technology and Communications Nikolina Angelkova held a meeting with representatives of the creditors, the Bulgarian Development Bank and Holding BDZ EAD.

The creditors were represented by KFW, as well as representatives of the bondholders.

During the meeting the financial creditors stated clearly that the letter of comfort by the European Commission sent to the Transport Minister this week, which reads that the state aid for restructuring of BDZ is compatible, is a significant step forward in the negotiations

Minister Angelkova highlighted that reaching an agreement with the creditors is crucial for the stabilization and financial rehabilitation of BDZ.

Both parties shared the view and committed to actively work towards finalizing a mutually acceptable solution that would settle the relations between the state railways and the creditors and bondholders.

For that purpose, next week experts form the Ministry and the State railway carrier will present to the attention of the creditors a new version of a draft agreement between the two parties outlining the specific action plan, deadlines and measures. The draft agreement is to serve as a basis for the negotiations that are most probably going to be held in October.