MOL Signs EUR615 Million Revolving Credit Facility Agreement
June 29 2016 - 12:30PM
Dow Jones News
BUDAPEST--Hungarian oil and gas company MOL Nyrt. said Wednesday
that it had signed a 615 million euro ($679.8 million) revolving
credit facility with a group of 10 banks.
MAIN FACTS:
- The credit facility refinances the EUR439 million expired part
of a EUR1 billion revolving credit facility, which expired earlier
in June 2016.
- Due to the favorable market conditions and the positive market
response to the announced financing, MOL increased the amount of
the facility to EUR615 million.
- The facility was coordinated by BNP Paribas and Erste Group
Bank AG, with Erste Group Bank AG acting as the facility agent.
- MOL achieved highly competitive conditions on the facility
with the initial margin being 95 basis points. The facility was
arranged as a club-deal with a group of relationship banks of
MOL.
- The tenor of the facility is five years, with two one-year
extension options and incorporates an "accordion" mechanism,
allowing MOL to increase the facility by an additional EUR300
million during the life span of the facility. The facility can be
drawn in euros and dollars.
- The new facility further enhances MOL's financial profile and
liquidity position.
Write to Margit Feher at margit.feher@wsj.com; Twitter:
@margitfeher
(END) Dow Jones Newswires
June 29, 2016 12:15 ET (16:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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