MOL Enters New Revolving Credit Facility
On Tuesday, October 2, 2007, MOL Hungarian Oil and Gas signed a new EUR 2.1 billion multi-currency revolving facility agreement with the Mandated Lead Arrangers and Senior Lead Arranger banks. As a result of the current level of commitments the amount of the Facility has been increased by EUR 100 million to EUR 2.1 billion. The list of the participating banks is to be finalized at the end of the general syndication, which is planned for second half of October. This facility is already the ever-largest Euroloan transaction for MOL, which clearly shows the success of the company's financial strength and excellent operational outlook, as well as the high level of support of MOL's relationship banks.
The EUR 2.1 billion commercial bank facility has a maturity of 3 years with bullet repayment and carries an interest rate of EURIBOR plus 27.5 basis points out of the box, subject to a margin grid based on the ratio of Net Debt to EBITDA. The proceeds of the facility will be used for general corporate purposes (including acquisitions).
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