MOL signs EUR 750 million revolving credit facility agreement - Investor News - Investor News
Summary
MOL entered into EUR 750 million revolving credit facility agreement (the Agreement or the Facility ) with 13 bank groups on the 15 th of December 2017.MOL Plc. As it was announced on 29th June 2016 by MOL, the EUR 439 million tranche of the original EUR 1 billion 2011 revolving credit facility matured in June 2016 and it was refinanced previously.Due to both favourable loan market conditions and the positive market response to the announced financing, MOL increased the amount of the facility to EUR 750 million. Simultaneously, the remaining EUR 451 million commitment under the EUR 1 billion facility is to be cancelled.The transaction was coordinated by MUFG and UniCredit Bank AG, London branch. Soci\xe9t\xe9 G\xe9n\xe9rale will act as the Facility Agent.MOL achieved highly competitive conditions in the Agreement with the initial margin being 80 basis points. The new Facility has a tenor of 5 years (with two one year extension options) and can be drawn in both Euros and US Dollars.The new Facility further enhances the financial profile and the liquidity position of MOL Group.