Daily News: July 11, 2018

ING Agents $650MM Revolver for MOL


International energy group MOL completed a €555 million ($650 million) revolving credit facility with ING, London branch as agent for the 15 bank syndicate.

Ersete Group Bank and KSB Bank coordinated the facility.

Simultaneously, MOL canceled its $930 million commitement under its $1.55 billion revolving credit facility agreement originally signed on October 30 2014. The rest of that facility remains available.

MOL achieved highly competitive conditions in the agreement with the initial margin being 75 basis points. The agreement was arranged as a club-deal with a group of relationship banks of MOL Group. The term of the facility is five years with further 1+1 one year extension options, and it can be drawn in Euros or U.S. dollars.