October 20 (SeeNews) - Croatian oil and gas group INA [ZSE:INA] said on Thursday it signed a 300 million euro ($293 million) revolving credit facility agreement with eight banking groups.
The lenders are BNP Paribas, the Hungarian branch of ING Bank - MKB Bank, OTP Banka, Privredna Banka Zagreb, Raiffeisenbank Austria, SMBC Bank, Tatra Banka and Zagrebacka Banka, INA said in a filing to the Zagreb bourse.
The tenor of the facility is three years with two one-year extension options, and it can be drawn in euro and U.S. dollars.
The facility was arranged as a club deal and can be used for general corporate purposes, including investments. It will be used to refinance a $300 million loan concluded in 2018.
The transaction was coordinated by Privredna Banka Zagreb and Zagrebacka Banka, whereas the London branch of ING Bank will act as facility agent.
Hungarian energy company MOL holds a 49.08% stake in INA, while the Croatian government owns 44.84%.
INA's shares last traded on October 18 on the Zagreb Stock Exchange, closing 1.74% higher at 3,500 kuna ($454/464 euro), bourse data showed.
($=7.536 kuna)
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