Bulgaria Signs Societe Generale over Eurocopter Deal

US Air Force, Bulgaria's Defense Minister Vesselin Bliznakov signed Friday the contract with the French bank Societe Generale for the financing of the project for the delivery of new helicopters for the Bulgarian Air and Naval Forces from Eurocopter. 
 
The contract is for the guarantee deposit of EUR 249 M, which is some 60% of the entire amount of the deal worth EUR 358 M. The deposit will be paid up by budged funds of the Defense Ministry in the delivery period. 
 
In the beginning of December 2005 Bulgaria and Eurocopter signed an offset agreement on the delivery of new helicopters for the Bulgarian Air and Naval Forces. The deal is worth EUR 358 M. It provides for the delivery of 18 helicopters, twelve of which are transport Coogers and 6- Panthers for the naval forces. 
 
The deliveries of the 18 helicopters are scheduled on a 3 years period. The 3 first aircraft of the Cougar type will be delivered by end 2006. 
 
This contract specifies the delivery of 12 Cougars to the Bulgarian Air Force. Eight of these aircraft will perform tactical transport missions and the four others will fly Combat SAR missions.