Hungary's MMBF Foldgaztarolo, which operates the country's strategic gas reserve, has signed agreements for loans of EUR 114mn and HUF 60bn ( EUR 200mn ), MTI news agency reported citing OTP Bank that acted as an agent in the transaction. Under the accord, the EBRD is lending EUR 40m and HUF 18bn to MMBF. ING Bank is lending EUR 74m and HUF 4bn, OTP is lending it HUF 20bn, and MKB Bank and Raiffeisen Bank are each extending loans of HUF 9bn. The announcement of the loan agreement came a day after Hungary's oil and gas group MOL finalised a deal for the sale of its 72.46% stake in MMBF to state-owned MFB Hungarian Development Bank (51%) and Hungarian Hydrocarbon Stockpiling Association (21.46%).
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- U.S. to Relinquish Gov't Control Over Internet
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Will Missing Malaysian Jet Prompt Aviation System Change?