The Hungarian oil and gas group Mol announced on Tuesday on the Budapest Stock Exchange website that it has canceled 975 million euros from the unused 1.5 billion euros under a revolving credit line.
The line expires on October 2 of this year and includes a revolving credit approved in multiple currencies with a total value of 2.1 billion euros. The company signed a loan agreement with banks on October 2, 2007, for a period of three years with an interest rate of Euribor plus 27.5 basis points. It committed to a one-time repayment of the loan upon maturity. "Even after the cancellation, the Mol group has sufficient backup liquidity, reflecting Mol’s strong financial position," the company’s official statement said. (H)
