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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

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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. 

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

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