Energy
Hungary MVM signs deal for HUF 200 bn revolving loan facility
The credit facility will be used for general corporate financing and the refinancing of MVM Group’s club loans. The 5-year credit is repayable in a lump sum at the end of maturity, MVM Zrt. Chief Executive János Zsuga said after the signing the agreement on Friday.
The starting margin is 40 basis points, which would probably make even German or U.S. large enterprises happy, added András Huszár, Deputy CEO for Business.
The providing banks are the following:
MVM Group is Hungary’s fourth-largest group of companies, Its consolidated revenues exceeded HUF 1,034 bn in 2016 and its EBITDA reached HUF 110 bn. MVM Group employs over 8,500 people and is present in more than 15 countries.
The starting margin is 40 basis points, which would probably make even German or U.S. large enterprises happy, added András Huszár, Deputy CEO for Business.
This agreement, which is the largest-volume forint credit business of 2017, is a milestone on the local market and also a success for MVM and the participating banks. The importance of the transaction is reflected by the size of the credit facility and the number of co-operating banks
, added Mihály Patai, Chairman-CEO of UniCredit Bank Hungary Zrt. that was the lead manager of the credit line.The providing banks are the following:
- BNP Paribas
- CIB Bank Zrt.
- Citibank
- Commerzbank Zrt
- Erste Bank Hungary Zrt.
- ING Bank N.V.
- K&H Bank Zrt.
- Magyar Takarékszövetkezeti Bank Zrt.
- MKB Bank Zrt.
- OTP Bank Nyrt.
- Raiffeisen Bank Zrt.
- UniCredit Bank Hungary Zrt.
MVM Group is Hungary’s fourth-largest group of companies, Its consolidated revenues exceeded HUF 1,034 bn in 2016 and its EBITDA reached HUF 110 bn. MVM Group employs over 8,500 people and is present in more than 15 countries.
