The availability of free financial resources as a result of an advance payment allowed Bulgartransgaz EAD to start correspondence with the banks that credited the company to realise its investment programme. Consequently to a procedure initiated by Bulgartransgaz EAD, the gas transmission operator received offers from the main bank creditors for a material reduction in interest rates under the already signed contracts to preserve the credit exposures. A material drop in interest rates has been achieved under the signed credit agreements and currently they are in the tune of 1,35% - 2,00 %, whilst the initial levels reached up to 3,50%. The most important reduction was from 3,5% down to 1,65%. As a consequence of the reduced interest rates, Bulgartransgaz EAD will realise further savings from interests under credit agreements amounting to BGN 18 252 220.
These available resources enabled Bulgartransgaz EAD to pay early another EUR 60 million to commercial banks thus saving from interests BGN 7 328 833.
Following renegotiation of the interest rates Bulgartransgaz EAD saved overall almost BGN 121 million.