Croatia’s INA Industrija Said to Be in Talks to Refinance Loans

INA Industrija Nafte d.d., Croatia’s largest oil refiner, is in talks with lenders to refinance existing loans, according to a person with direct knowledge of the deal.

INA, which is owned by Hungarian refiner Mol Nyrt., signed a $1 billion revolving credit in 2007 which is due to mature in March, according to data compiled by Bloomberg. That loan for the Zagreb-based company pays interest at 30 basis points more than the London interbank offered rate, the data show.

“As a usual activity, INA is negotiating with banks about possibilities in the market and possible cooperation so that it could finance its business,” the company said in an e-mailed statement translated from Croatian.

To contact the reporters on this story: Louise Meeson in London on lmeeson@bloomberg.net; Jasmina Kuzmanovic in Zagreb at jkuzmanovic@bloomberg.net

To contact the editor responsible for this story: Faris Khan at Fkhan33@bloomberg.net

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