The new Facility has a tenor of 3 years with an accordion option enabling MET to increase the facility amount to EUR 150 million. The Transaction refinances the previous EUR 50 million facility initially concluded in May 2018. The new Facility is used for general corporate purposes.
This Transaction follows the closing of MET’s EUR 915 million Short Term Revolving Credit Facilities announced in February this year. MET Group has once again demonstrated a strong relationship with its core banking partners.
MET Group is an integrated European energy company, headquartered in Switzerland, with activities in natural gas and power markets. MET is present in 14 countries through subsidiaries, 25 national gas markets and 22 international trading hubs. In 2019, MET Group’s consolidated sales revenue amounted to EUR 11.7 billion, the volume of natural gas traded was 50 BCM. MET is owned 80% by its employees and 20% by Keppel Corporation.
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