Hungary, MVM Group has signed a corporate financing agreement worth 250 million euros with ICBC Austria

, SEE Energy News

Hungarian MVM Group has signed a corporate financing agreement worth 250 million euros with ICBC Austria in order to ensure its financial stability.

The statement from the group said that it would do everything possible to ensure security of supply during the ongoing energy crisis and unpredictable trends in European and global markets, adding that it working on establishing a broad safety net in terms of financing.

MVM Deputy CEO Laszlo Fazekas said that the signed agreement would contribute to further expanding the financial resources necessary for the country’s energy security and would further increase MVM’s financial stability, as well as the confidence of lending markets in MVM’s long-term outlooks. He added that MVM and ICBC Austria are in negotiations on further opportunities to strengthen medium- and long-term cooperation.

ICBC Austria is the Austrian subsidiary of Industrial and Commercial Bank of China (ICBC), one of the largest Chinese lenders.

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