Enel advances Eu8bn jumbo talks, Iberdrola nears extension agreement
Enel, the Italian utility, is close to securing the first jumbo deal of 2008, according to loans bankers. The borrower is in advanced talks with lenders about an Eu8bn loan to acquire Acciona’s 25% stake in Endesa, the Spanish utility. While the size of the facility has countered some bankers’ expectations that jumbo loans would be rare in 2009, loans officials cautioned that the deal would not necessarily open the floodgates to many more big transactions.
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