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A&O Frankfurt Advises MOL on First Ever Schuldschein Transaction of a Hungarian company

A&O Frankfurt Advises MOL on First Ever Schuldschein Transaction of a Hungarian company


Allen & Overy has advised MOL Plc. in connection with the conclusion of Schuldschein loan agreements with a total volume of EUR 110 million. 

The Schuldschein facility is split into tranches with terms ranging from three to seven years and a favorable average term of 5.2 years. 

MOL is an integrated, independent international oil and gas group headquartered in Budapest. It employs more than 25,000 staff in over 30 countries and has been operating in its line of business for more than 100 years.

According to A&O, "the transaction has attracted a number of new investors and permits MOL to diversify its funding base. It is not only MOL's debut transaction in the Schuldschein market but at the same time the first ever Schuldschein transaction of a Hungarian corporate."

The A&O team was led by Frankfurt-based Partner Neil George Weiand. Inhouse advice at MOL Plc. was provided by Group Legal Senior Counsel Judit Toth. 

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