MOL signs a EUR 700 million revolving facility agreement, the largest corporate bank facility to date in Hungary

MOL Hungarian Oil and Gas Plc. signed a new EUR 700 million multi-currency revolving facility agreement with a syndicate of international banks. During the syndication process, the facility amount was more than 2 times oversubscribed of which EUR 700 million has been accepted according to final decision of MOL and the bank consortium. The size and terms achieved in the new syndicated loan facility clearly show the success of the company’s strategy in the region and the high level of commitment of MOL`s relationship banks. In accordance with recent European trends, the documentary conditions reflect further evolution compared to earlier facilities and demonstrate MOL’s outstanding achievements of recent years.
The EUR 700 million commercial bank facility has a maturity of 5+1+1 years with bullet repayment and carries an interest rate of EURIBOR plus 22.5 to 37.5 basis points, subject to a margin grid based on the actual Net Debt to EBITDA ratio. The proceeds of the facility will be used for general corporate purposes.
This EUR 700 million transaction is the largest recorded bank facility in Hungary to date , as well as the largest recorded unsecured bank facility in the oil & gas sector in Central and Eastern Europe.

Bookrunners: BNP Paribas, Citigroup, HSBC Bank

Mandated Lead Arrangers: Abn Amro Bank, Bank Austria Creditanstalt, HVB Hungary, The Bank Of Tokyo-Mitsubishi, Barclays Capital, Calyon, CIB Bank, V¹eobecná Úverová Banka, Deutsche Bank, Dresdner Kleinwort Wasserstein, Fortis Bank, ING, K&H Bank, OTP Bank, Tatra Banka, Sanpaolo IMI, Societe Generale and WestLB Hungaria Bank, Bank Polska Kasa Opieki, Unibanka.

Co-Arrangers: Mizuho Corporate Bank., Banco Bilbao Vizcaya Argentaria, Sumitomo Mitsui Banking Corporation. 

Lead Managers: Budapest Bank, Magyar Külkereskedelmi Bank.