ESB powers up €1.35bn refi

Ireland’s state-owned Electricity Supply Board (ESB) has signed a new €1.35bn syndicated credit line, replacing a facility that was set to expire in the next two years. The Baa3/BBB+/BBB+ rated borrower first approached its relationship banks about a five year revolver to extend its maturities until 2018 last quarter and has now completed the refinancing.