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CMS and Baker McKenzie Advise on Refinancing of MOL Group's 2017 EUR 750 Million Multicurrency Revolving Credit Facility

CMS and Baker McKenzie Advise on Refinancing of MOL Group's 2017 EUR 750 Million Multicurrency Revolving Credit Facility

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CMS has advised coordinator and facility agent Raiffeisen Banking Group on the EUR 600 million nine-banking-group club multicurrency revolving credit facility for the MOL Group. Baker McKenzie advised the MOL Group on the deal. CMS also acted as transaction counsel on MOL's JPY 14.6 billion bilateral revolving credit facility and its EUR 50 million bilateral EUR/CNY revolving credit facility.

The three agreements – with MOL Group Finance Zrt as borrower and MOL Plc as guarantor – constitute a full refinancing of the revolving credit facility agreement signed by the MOL Group in December 2017 for a total of EUR 750 million, which would have matured in 2024. The tenor of the new facilities is five years with up to two one-year extension options.

The CMS team included Partner Ana Radnev, Senior Counsel Eszter Torok, and Associate Balazs Bibok.

The Baker McKenzie team included Partners Jozsef Vagi and Michael Foundethakis and Associate Andrea Weinraub.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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