Lenders fall for ‘fair’ Enel five year, boost size to Eu10bn
Italy’s Enel is close to signing a Eu10bn five year loan, having decided to increase it from Eu8bn after receiving an overwhelming response from lenders, said bankers close to the transaction on Thursday.
The A2/A- rated utility invited banks to commit up to Eu500m in March. Despite the increase, lenders could still be scaled back.
Enel will pay a margin, which will be linked to a ratings grid, of 85bp out of the box. If the facility is more than 50% drawn
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