MOL signs €2.1 bln revolving credit
Hungary’s oil and gas group MOL announced today that on 2 October it signed a new €2.1 billion ($2.98 billion) multi-currency revolving facility agreement with the Mandated Lead Arrangers and Senior Lead Arranger banks.
As a result of the current level of commitment, the amount of the facility has been increased by €100 million to €2.1 billion. The list of the participating banks will be finalized at the end of the general syndication, planned for second half of October. “This facility is already the largest-ever Euroloan transaction for MOL, which clearly shows the success of the company’s financial strength and excellent operational outlook, as well as the high level of support of MOL’s relationship banks,” MOL said in a statement on the Budapest Stock Exchange (BÉT) website.
The €2.1 billion commercial bank facility has a maturity of three years with bullet repayment and carries an interest rate of EURIBOR plus 27.5 basis points out of the box, subject to a margin grid based on the ratio of Net Debt to EBITDA. The proceeds of the facility will be used for general corporate purposes, including acquisitions. (portfolio.hu)
ADVERTISEMENT
Poland Inflation Surges in February
Parliament Negates Mandatory Membership in MOK
Schneider Electric Lays Cornerstone of HUF 16 bln Plant in H...
Kinizsi Castle Reopens in Nagyvázsony
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
