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Croatia's INA agrees $300 mln revolving credit facility

Author Radomir Ralev
Croatia's INA agrees $300 mln revolving credit facility Author: INA. License: All rights reserved

ZAGREB (Croatia), December 11 (SeeNews) - Croatian oil and gas company INA [ZSE:INA] has signed a $300 million (263.3 million euro) revolving credit facility agreement with seven banks, it said on Tuesday.

The facility will be used for general corporate purposes and will refinance a similar credit agreed in 2015, INA said in a filing with the Zagreb Stock Exchange.

The tenor of the facility is three years with a two one-year extension option and the interest margin was set at 90 basis points, INA said.

The transaction was coordinated by Raiffeisen Bank International, whereas ING Bank, London Branch acts as Facility Agent, the Croatian company added.

Hungary's MOL is the biggest shareholder in INA with a 49.08% stake. The Croatian government owns 44.84%, with the remaining 6.08% held by institutional and private investors.

($ = 0.8778 euro)