BUDAPEST--Hungarian oil and gas company MOL Nyrt. said Wednesday that it had signed a 615 million euro ($679.8 million) revolving credit facility with a group of 10 banks.

MAIN FACTS:

- The credit facility refinances the EUR439 million expired part of a EUR1 billion revolving credit facility, which expired earlier in June 2016.

- Due to the favorable market conditions and the positive market response to the announced financing, MOL increased the amount of the facility to EUR615 million.

- The facility was coordinated by BNP Paribas and Erste Group Bank AG, with Erste Group Bank AG acting as the facility agent.

- MOL achieved highly competitive conditions on the facility with the initial margin being 95 basis points. The facility was arranged as a club-deal with a group of relationship banks of MOL.

- The tenor of the facility is five years, with two one-year extension options and incorporates an "accordion" mechanism, allowing MOL to increase the facility by an additional EUR300 million during the life span of the facility. The facility can be drawn in euros and dollars.

- The new facility further enhances MOL's financial profile and liquidity position.

Write to Margit Feher at margit.feher@wsj.com; Twitter: @margitfeher

(END) Dow Jones Newswires

June 29, 2016 12:15 ET (16:15 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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