Hankook’s Hungary Unit Signs 70 Million-Euro Loan Agreement

Hankook Tire Co.’s Hungarian subsidiary signed an agreement for a 70 million-euro ($102 million) syndicated loan on May 27, according to Raiffeisen Bank Hungary.

Hankook will use the five-year amortising loan to refinance its existing credit, Raiffeisen said in an e-mailed statement today. Hankook mandated K&H Bank Zrt., the local unit of KBC Groep N.V., Raiffeisen Bank Zrt. together with Raiffeisen Bank International AG (RBI) and UniCredit Bank Austria AG to arrange the loan, according to the statement.

To contact the reporter on this story: Edith Balazs in Budapest at ebalazs1@bloomberg.net

To contact the editor responsible for this story: James Gomez at jagomez@bloomberg.net

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