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Croatia's INA signs one-year extension of $300 mln revolving credit facility

Author Iskra Pavlova
Croatia's INA signs one-year extension of $300 mln revolving credit facility Croatian energy firm INA, Photo: www.hungarytoday.hu

ZAGREB (Croatia), November 7 (SeeNews) - Croatian oil and gas company INA [ZSE:INA] said on Thursday it has signed a one-year extension of its $300 million (271 million euro) revolving credit facility agreement with seven banks concluded in December 2018.

"INA agreed the extension of the maturity for one additional year with all participating lenders under the unchanged highly competitive conditions. The extension of this facility further ensures stable financial support for INA's operations and future investment activities," the company said in a statement.

The facility was arranged at the end of last year as a club deal with a three-year tenor and two one-year extension options, INA said

In late 2018, INA said the interest margin on the credit facility was set at 90 basis points, adding it will use the credit for general corporate purposes and to refinance a similar credit agreed in 2015.

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.

($ = 0.902634 euro) 

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