Ding Dong! Energy firm slashes loan margin

18 Aug 2011

Denmark’s Dong Energy has cut the cost of its bank facility, replacing a €750m loan signed in May last year with a new €1.3bn five year plus one plus one revolver.

Last year’s five year deal for the Baa1/A-/BBB+ rated borrower paid a margin of 65bp over Euribor but the pricing on the new deal has been cut, with the new pricing linked to a ratings grid. The borrower will pay 35bp with a flat A rating, 40bp at ...

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