Italy’s Edison signs Eu600m club

27 May 2009

Edison, the Italian gas and hydroelectric group, signed a Eu600m three year unsecured term loan on Wednesday. The deal for the Baa2/BBB+/BBB+ rated borrower was secured in a clubbed transaction from six lenders.

The banks on Edison’s new three year facility are BBVA, BNP Paribas, Calyon, Intesa Sanpaolo, Société Générale and UniCredit.

The deal will be used to repay most of a Eu800m bank overdraft, according to a spokesman for the borrower.

Edison last signed a syndicated loan in May 2006, when it ...

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