The company’s Chief Financial Officer Jozsef Simola stressed that high interest among investors not only allowed the company to raise very competitively-priced funding, but also demonstrates the trust and confidence of capital markets in MOL and its operational and financial strength.
Hungarian oil and gas company MOL announced that the pricing process related to the issuance of 750 million euros worth senior unsecured notes (Eurobond) was completed on 21 April. The issuance of the notes will be followed by the signing and completion of the relevant documentation, which is expected to be done next week.
The annual coupon will amount to 2.625 % with the yield of 2.75 %. The company’s Chief Financial Officer Jozsef Simola said that this Eurobond issuance was priced at the most attractive levels with the lowest coupon and yield in MOL’s corporate history, which is yet another testament to the company’s financial strength. He added that MOL managed to tap debt markets when oil and gas industry is facing serious challenges.
Simola stressed that high interest among investors not only allowed the company to raise very competitively-priced funding, but also demonstrates the trust and confidence of capital markets in MOL and its operational and financial strength.
Ahead of MOL’s issue of euro-denominated notes, rating company Fitch has assigned an expected senior unsecured BBB-(EXP) rating to the process, transmits Serbia-energy.eu