Premium pays off as Enel overwhelmed in syndication, increases new deal to €3.2bn

Italian electricity producer Enel has completed its new syndicated credit facility, with the pricing premium offered bringing lenders flocking to the deal.

  • 24 Feb 2012

The facility, which is priced at 350bp over Euribor all-in based on a margin of 300bp, has been increased from a mooted €2bn to €3.2bn after demand overwhelmed the syndication.

"This is a very strong company, and it’s well priced and well structured," said a senior loans banker. ...

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1 Bank of America Merrill Lynch (BAML) 5,352 14 11.64
2 Citi 4,816 14 10.48
3 Credit Suisse 4,439 8 9.65
4 Lloyds Bank 3,788 10 8.24
5 Morgan Stanley 3,252 6 7.07

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4 Citi 34,145.72 100 8.91%
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