Allen & Overy advises MOL on conclusion of EUR 110 m debut Schuldschein facility

Allen & Overy LLP has advised Hungarian listed company MOL Plc. in connection with the conclusion of Schuldschein loan agreements with a total volume of EUR 110 m. The Schuldschein facility is split into tranches with terms ranging from three to seven years, and a favourable average term of 5.2 years. The transaction has attracted a number of new investors and permits MOL to diversify its funding base. It is not only MOL's debut transaction in the Schuldschein market but at the same time the first ever Schuldschein transaction of a Hungarian corporate.

MOL is an integrated, independent international oil and gas group headquartered in Budapest, Hungary. It employs more than 25.000 staff in over 30 countries and has been operating in its line of business for more than 100 years.

On the part of Allen & Overy, partner Dr. Neil George Weiand (Banking and Finance, Frankfurt) advised on this matter.

Inhouse advice at MOL Plc. was provided by Dr. Judit Toth LL.M., Group Legal Senior Counsel.