EUR 50 million Senior Unsecured Revolving Credit Facility for MET Group
MET Group (“MET” or “Group”), a leading integrated European energy company, is pleased to announce the closing of its debut Senior Unsecured Medium Term Revolving Credit Facility (the “new Facility”) of EUR 50 million.
The new Facility has a tenor of 3 years with an accordion option enabling MET to increase the facility amount to EUR 100 million. The new Facility will be used for general corporate and working capital purposes to support the growth of the Group.
The new Facility follows the extension of MET’s EUR 735,000,000 Senior Revolving Credit Facilities on December 04, 2017 for another year with 13 lenders, comprising a EUR 555 million Secured and EUR 180 million Unsecured tranche.
The new Facility continues to demonstrate MET’s strong track record in accessing funding sources from a wide pool of international banks and underline lenders’ appetite to finance the natural gas and integrated energy sector.
Participating banks and legal adviser:
OTP Bank Plc.
Citibank Europe Plc
Bank GPB International S.A.
OTP Bank Plc.
UniCredit Bank Hungary Zrt.
Clifford Chance LLP
About MET Group
MET Group is a leading integrated European energy company. Headquartered in Switzerland, MET is an active participant in the European natural gas, power and oil markets. The Group is present in 15 countries through subsidiaries, 28 national gas markets and 23 international trading hubs. MET trades about 8% of continental Europe’s gas consumption (Europe consumption in 2017 was 465 BCM, MET Group total volume traded about 35 BCM). MET Group also has a substantial power portfolio including a 779MW power plant in Hungary.