EWE increases revolver refi after scalebacks
German utility EWE (A2) has increased its new five year revolving credit facility to Eu850m after receiving good demand in syndication. Barclays, BNP Paribas and Commerzbank arranged the loan, which was signed on Tuesday.
EWE originally launched the facility at Eu750m and received commitments from existing and new lenders. All participating banks were scaled back. The company expects the facility to remain largely undrawn. It is replacing a loan that was set to mature in May 2013.
Initially the facility will offer a
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