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.
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 its well priced and well structured," said a senior loans banker.
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