Press Releases

Budapest, November 11, 1999

MATÁV and a bank consortium headed by Citibank on 10th of November signed Matáv's second syndicated loan agreement (HUF 13.5 billion with a maturity period of 6 years). This loan will enable MATÁV to pursue its financing strategy and further increase the rate of HUF loans in its debt portfolio.

Citibank was involved in this transaction as coordinator and creditor, and also supervised drafting of the documents. The following banks participated as leading creditors: Kereskedelmi és Hitelbank Rt., Magyar Fejlesztési Bank Rt., Magyar Külkereskedelmi Bank Rt., as well as Postabank és Takarékpénztár Rt. Five additional banks, ABN-Amro (Magyar) Bank Rt., CIB Közép-Európai Nemzetközi Bank Rt., ING Bank Rt., Inter-Európa Bank Rt. and Országos Takarékpénztár és Kereskedelmi Bank Rt. signed the loan agreement as creditors and contributors. Magyar Külkereskedelmi Bank Rt. acted as agent in charge of this transaction.

Matáv's legal representative was Dr. Gábor Horváth Law Office; the bank consortium was represented by Ormai and Partners CMS Cameron McKenna Law Office.