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MOL signs €1 bln revolving credit deal

Hungarian oil and gas company MOL signed an agreement for a €1 billion revolving credit.

The loan will refinance a €700 million revolving credit expiring on May 23, 2012, and will partially refinance a €825 million revolving credit agreement expiring July 25, 2013.

The €700 million open credit, concluded in May 2005, was canceled as part of the transaction.

The term of the credit is 5 years, which can be extended by another 2 years.