BUDAPEST--Hungary-based oil and gas firm MOL Nyrt. (MOL.BU)
signed a revolving credit facility of up to $1.55 billion with 15
banks Thursday, the company announced in a stock exchange filing
Friday.
MAIN FACTS:
- The new facility refinances MOL's 500 million euro ($630
million) revolving credit facility that expired in September, as
well as the $545 million revolving credit facility concluded last
April.
- The deal is coordinated by Credit Agricole S.A. (CRARY) and
ING Bank NV, while Bank of America Merrill Lynch is the facility
agent.
- The tenor of the facility is five years with an option of
extension by one plus one year. It can be drawn both in US dollars
and euros.
- "Due to the great market response we contracted a
significantly higher amount at a substantially lower price level,"
Jozsef Simola, MOL's chief financial official was quoted as saying
in the statement, adding that originally the company only intended
to refinance its expiring 500-million-euro revolving credit
facility.
Write to Veronika Gulyas at veronika.gulyas@wsj.com; Twitter:
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