Mol cancels Eu1bn of unwanted debt

Hungarian oil and gas company Mol cancelled almost Eu1bn of undrawn bank debt on Tuesday, about three months before it was due to mature.

  • 30 Jul 2010

The borrower obtained a Eu525m forward start in November to extend for two years part of a Eu1.5bn facility due on October 2. Only Eu500m was drawn at the time of the forward start and Mol has now decided to cancel the remaining Eu975m.

Mol, rated BB+/BBB-, told its ...

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