MET Group raises another loan
European energy company MET Group has signed one more loan facility, this time for €112mn. The senior secured term loan comes just two months after the group sealed a revolving credit facility worth €50mn.
The new loan has a tenor of seven years and is structured on a non-recourse basis. It was arranged by mandated lead arrangers and bookrunners Citi (London branch), UniCredit and UniCredit Hungary. An additional seven financial institutions participated in the transaction: Erste Bank, ING, International Investment Bank, MKB Bank, OTP Bank, Raiffeisen Bank and Takarékbank.
Law firm Clifford Chance took on the role of lender’s counsel.
The facility was “very well received” by the invited banks during general syndication and closed substantially oversubscribed, the company says.
It will be used to support the group’s plans to increase its European asset portfolio within its industrial focus.
MET’s head of group treasury and corporate finance Marc Pfefferli told GTR back in May that the group is in the process of evolving into an “integrated energy company” and indicated then that it will be seeking medium and long-term funding in order to do so.take me back