Enel confirms five year trend with Eu8bn refi
Enel will ask its relationship banks to fund an Eu8bn five year transaction as the borrower looks to increase the size of its long-term financing, according to bankers working on the transaction. The Italian utility will use the loan to refinance a Eu5bn five year loan due to mature later this year.
The transaction is the latest, and the largest, of a spate of five year transactions seen in the market this year, reflecting the increased levels of confidence being felt in the European loan market.
"For strong investment grade names, five year deals are possible," said a banker connected
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