MOL extends EUR 470 mln of revolving credit facility by one year

Recycling

Hungarian oil and gas company MOL on Tuesday said it has extended EUR 470 million of a EUR 555 mln revolving credit facility agreement by one year until 2024, state news wire MTI reported.

MOL initially signed the five-year revolving credit facility agreement with 15 banking groups on July 9, 2018. The extended part of the facility now matures on July 9, 2024. The margin levels on the extended part of the facility are unchanged.

Under the original agreement, MOL may extend the maturity of the facility twice, by one year each time.

MOLʼs net gearing ratio stood at 12% at the end of last year, down from 17% at the end of 2017, MTI noted.

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