MVM Group signs corporate financing agreement with ICBC Austria

Hungary's MVM Group has signed a corporate financing agreement worth 250 million euros with ICBC Austria to ensure its financial stability, MVM on Friday.

MVM said it would do everything to ensure security of supplies amid the energy crisis and unpredictable trends in the European and global markets, and was working to “build a broad safety net” in terms of financing.

MVM economic deputy head Laszlo Fazekas said in the statement that the agreement would contribute to further expanding the financial resources necessary for Hungary’s energy security and would further increase MVM’s financial stability, as well as the confidence of lending markets in MVM’s long-term outlooks.

MVM and ICBC Austria are in negotiations on further opportunities to strengthen medium- and long-term cooperation, Fazekas added.

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