Czech CEZ mandates 1-yr loan to fund MOL stake buy

...stake in Hungarian oil and gas firm MOL , the Czech firm said on Thursday.

The loan, whose agent is ING, will carry a margin of 17 basis points above Euribor, plus relevant arangers' fees, said CEZ in a statement. The company said it was taking the loan to cover general financing needs, including the MOL stake purchase.

A CEZ spokeswoman said the transaction's volume corresponded to the size of the MOL stake purchase. She did not elaborate.

CEZ has previously said that after subtracting an option premium it will receive, it would pay around 560 million euros ($812.3 million) for the stake. CEZ agreed to buy into MOL as part of an alliance that may help MOL ward off a takeover bid from Austria's OMV .

For more on the alliance between CEZ and MOL, double click on the following code: [ID:nL20861383].

(Reporting by Marek Petrus) ($1=.6894 Euro)

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Keywords: CEZ LOAN/

[PRAGUE/Reuters/Finance.cz]