BANKS GUARANTEE EURO 50 MILLION EIB LOAN TO MATAV.
An international syndicate arranged by ABN AMRO Bank and Commerzbank, comprising also Deutsche Genosschenschaft Bank, the European Investment Fund, as well as Raiffeisen Zentralbank, has agreed to guarantee a European Investment Bank (EIB) loan of Euro 50 million which was granted to the Hungarian telephone company MATAV in 1995. This loan brought to Euro 230 million the amount lent to MATAV since 1990 for its ten year investment programme to bring the Hungarian telecommunications network to EU standard. Before privatisation, EIB loans to MATAV were guaranteed by the Republic of Hungary. Following privatisation of MATAV a syndicate arranged by ABN AMRO Bank took over all guarantee obligations in 1997, except for the last Euro 50 million.
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|Title Annotation:||Company Business and Marketing|
|Comment:||BANKS GUARANTEE EURO 50 MILLION EIB LOAN TO MATAV.(Company Business and Marketing)|
|Article Type:||Brief Article|
|Date:||Jun 23, 1999|
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