Swiss-based energy company MET Group has secured a new €120mn medium-term loan from a group of five banks.
The committed three-year facility refinances a previous €50mn facility from May 2018 and will be used for general corporate purposes. MET has the option of increasing the size of the facility to €150mn through an accordion feature.
The four lenders involved in the previous deal – Citi, GPB International, OTP Bank and UniCredit – have all signed on once again. They’re joined by ING on this year’s loan agreement, with OTP serving as facility agent.
Commenting on the deal, Marc Pfefferli, group treasurer at MET Group, says: “MET has once again demonstrated a strong relationship with its core banking partners. We significantly increased the facility from its previous amount and are in the process to add other lenders through the accordion option.