HVB Bank Hungary has mandated Bank Austria and SMBCE to arrange a Eu100m syndicated term loan. The five year facility has a bullet structure and a margin of 22.5bp for years one to three and 25bp for years four and five.
It will be used for general corporate purposes.
The borrower was last in the market in December with a Eu130m seven year loan. The deal was oversubscribed to Eu162m through mandated lead arrangers ABN Amro, Bank Austria and KBC.
That deal paid a margin of 24bp over Libor for the first three years and 25bp for years four to seven.
Mol has attracted eight banks taking a hold of Eu50m each for its Eu400m club facility.
The Hungarian oil and gas monopoly completed a Eu500m loan in July which it increased to Eu600m. It then surprised the market by coming back quickly to banks to talk about another deal to help finance Mol's $505m acquisition of a 25% plus one share stake in INA, the Croatian integrated oil and gas company.
Bankers said that the borrower has plans to take out the new facility with either a bond deal or alternative capital markets issuance when it matures.
For more details, see EuroWeek 818.
