Enel €5bn revolver raises parched loan market hopes of early refi wave
A €5bn revolving credit facility launched by Italian utility Enel has offered loans bankers a glimmer of hope that a spate of borrowers could refinance upcoming maturities very early. Enel’s new loan is intended to replace a €10bn line that does not mature until April 2015, writes Nina Flitman.
The 5bn club deal from the Baa2/BBB+/BBB+ rated corporate has lifted the spirits of market participants, who long for a flow of borrowers refinancing their revolvers to bring some much needed relief to a market parched of issuance.
"Although it would be cheeky to try to refinance what was
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