MOL Signs $1.55 Billion Revolving Credit Facility With 15 Banks

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 [e-mail]; Twitter: @VeronikaGulyas1