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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. 

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DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa, and Asia Pacific. This positions us to help clients with their legal needs around the world.

With more than 60 lawyers, including 14 partners, and a staff of over 140, DLA Piper Hungary is one of the largest international law firms operating in Hungary. What makes us stand out is that we offer not only legal services but also tax and business advisory support in a fully integrated manner. We maximize synergies between legal, tax, and business advisory services to offer a unique service for our clients, particularly in regulated industries such as energy, infrastructure, life sciences, banking, and telecommunications.

We are a true full-service firm, providing our private and public sector clients with advice on all aspects of their business. This includes transaction-related advice, people and employment, commercial dealings, litigation, information technology, media and communications, intellectual property, insurance, tax, real estate, and restructuring plans.

DLA Piper Hungary has received numerous professional awards and is consistently ranked among the top law firms in Hungary by international rankings. We are ranked #1 by Mergermarket among the law firms active in Hungary based on the volume of M&A deals handled between 2005 and 2024.

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