Mol’s Croatia Unit Gets $400 Million Syndicated Revolving Credit

INA Industrija Nafte d.d., the Croatian subsidiary of Hungary’s largest refiner Mol Nyrt. (MOL), raised a $400 million revolving credit facility, a week after its parent obtained a similar deal.

The three-year multicurrency loan, which can be extended by as much as two years, was coordinated by Erste Group Bank AG and ING Groep NV, according to a statement from the Zagreb, Croatia- based company. Bank of Tokyo-Mitsubishi UFJ Ltd. is facility agent.

Budapest-based Mol signed a $480 million three-year credit line with the same extension options on March 27, according to data compiled by Bloomberg. Citigroup Inc., Erste Group Bank and KBC Bank NV arranged the deal, the data show. Both companies asked banks to propose terms for loans of as much as 400 million euros in January, people with knowledge of the matter said at the time.

INA also increased an intragroup loan agreement with Mol to $300 million from $200 million, it said in the statement. Mol owns a controlling 49.1 percent stake in Croatia’s largest refiner, with the country’s government the second-largest shareholder, according to the company’s first-half report.

To contact the reporter on this story: Stephen Morris in London at smorris39@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net

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