EURACTIV PR

An easy way of publishing your relevant EU press releases.

Enel signs a 5 year revolving credit facility for 10 billion euros

Date

Tue, 04/20/2010

Sections

Energy

Luxembourg, April 19, 2010 – Today in Luxembourg Enel S.p.A. (th1) signed a 5-year revolving credit facility for 10 billion euros that replaces a 5 billion euros syndicated loan (currently not utilised) set to expire in November 2010.

The new credit line which may be used by Enel S.p.A. and/or by its Luxembourg subsidiary Enel Finance International SA (secured by the Parent Company), aims at offering the Group Treasury further financial flexibility for its day-to-day cash requirements. This credit facility does not fall under the Group’s debt refinancing program.

A large group of lenders, coordinated by Mediobanca, participated in the operation. Requests for participation amounting to over 13 billion euros were made, prompting Enel to increase the amount of the facility to 10 billion euros from the 8 billion euros originally contemplated.

The cost of the new credit line will vary depending upon Enel S.p.A.’s pro tempore rating, offering at current rating levels a margin of 85 basis points above Euribor with commitment fees of 40% of the applicable margin.

Jobs

Smart Energy Europe
Senior Market Analyst
European University Institute
HR Officer
Glass Fibre Europe
Regulatory Affairs Officer
European Food Banks Federation
Senior Policy & Advocacy Officer
Council of Europe Development Bank (CEB)
Donor Cooperation Coordinator
EGGA - Galvanizing Europe
Director - EU Policy