OTP and Mol to rise above Hungary’s woes
Hungary’s Mol, the oil and gas group, and OTP Bank will be able to raise funds in the loan market, despite last week’s comments by government ministers that compared the country’s finances to those of Greece and caused a sell-off of Hungarian assets, bankers insisted.
OTP launched a Eu200m facility two weeks ago, while Mol considered Hungarys strongest corporate borrower recently sent banks requests for proposals to refinance a Eu525m forward start.
The comments last week, which also implied that Hungary could default on its debt, caused the forint to drop to
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