Global law firm White & Case LLP has advised a large group of lenders including ING Bank NV, Crédit Agricole Corporate and Investment Bank and other mandated lead arrangers, and Bank of America Merrill Lynch as Facility Agent, on a new US$1.55 billion revolving credit facility provided to MOL Group.
Prague-based White & Case partner Jonathan Weinberg, who led the team which advised on the transaction, said: "We were very pleased to continue the Firm's relationship with our banking clients, as well as with MOL, having successfully supported them on similar transactions for a number of years. Our advice on this new, very high volume MOL facility was built on cross-border collaboration between lawyers based in Prague and Budapest, underlining the strength of our network and English law capabilities in the Central & Eastern European region."
The new facility will be used for, among other things, refinancing MOL's €500 million revolving credit facility that expired in September 2014 and the US$545 million revolving credit facility concluded in April 2013 and will also support corporate activities.
MOL is a leading international, integrated oil and gas company headquartered in the Hungarian capital Budapest. It is the biggest company in Hungary and a blue chip firm on the Budapest Stock Exchange. It has operations in more than 40 countries, employs almost 30,000 people worldwide and its exploration and production activities are built on more than 75 years’ experience in the hydrocarbon field.
The White & Case team which advised the lenders on this transaction was led by partner Jonathan Weinberg (Prague) with support from local partner Gergely Horváth and associate Tamás Erőss (both Budapest).
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