Enel signs at Eu10bn, lenders scaled back

Italy’s Enel signed a Eu10bn five year revolver on Monday after banks flocked to the deal and committed over Eu13bn in syndication.

  • 19 Apr 2010

Mediobanca coordinated the loan, which was initially meant to be Eu8bn. Overall, 31 banks joined the facility. Despite the increase, banks’ commitments were still scaled back around 25%.

Enel will pay a margin of 85bp, linked to a ratings grid. If it uses more than half the loan it ...

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