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United Bulgarian Bank (UBB) has ranked first in the tender process for an investment loan of up to ˆ183.5 million for the Sofia Municipality. This amount represents half of the record-breaking debt—totaling up to ˆ367 million—approved in September to fund new vehicles, road connections, and the renovation of urban infrastructure. The remaining half is expected to be provided by the European Investment Bank (EIB). Negotiations regarding the contract terms will now take place with the winning bidder, after which the agreement must be submitted to the Sofia Municipal Council for approval. The initial requirements stipulated a floating interest rate based on the six-month EURIBOR plus a bank margin of up to 1.10 percentage points per annum. Total fees, commissions, and other associated costs are capped at 0.25% of the principal amount. The loan is to be unsecured, with a term of at least 15 years, a drawdown period of at least three years, and a principal grace period of at least three years. Repayment will be sourced from the Municipality’s future revenues. Even with a fixed bank margin, the total interest expense will depend on the fluctuations of the EURIBOR over the years. Of the total ˆ367 million package, over ˆ176 million is earmarked for the renewal of the public transport fleet. The program includes up to 200 buses, 75 battery-powered trolleybuses, up to 20 low-floor trams, and 50 fast-charging electric buses, along with their associated charging stations. Some of the transport investments will combine borrowed funds with European financing. Approximately 190 million euros have been allocated to 19 infrastructure projects. These include Copenhagen Boulevard—featuring a new tram line connecting the Druzhba and Mladost districts—the Eastern Tangent, the extension of Iliyantsi Boulevard, the second phase of Rozhen Boulevard, and the widening of Lomsko Shose. Plans also include the reconstruction of existing boulevards, tram tracks, sidewalks, and bicycle lanes.

 

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