OMV Petrom contracts EUR 1 bln credit line

OMV Petrom contracted a multi-currency credit line worth EUR 1 billion from a syndicate consisting of 17 banks, replacing a credit line contracted in November 2011, which totaled EUR 930 million, due in 2016 and unused.

The new credit has a maturity of five years and can be renewed for another two years.

OMV Petrom began the process of refinancing the loan by working with BRD Societe Generale and Unicredit Bank Austria as lead arrangers. The syndicate of banks which is securing the funding includes 17 Romanian and international banks.

The company, which is part of the Austrian group OMV, will use the money, if necessary, to finance current operations.

Staff

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