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.

  • 26 Mar 2010

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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1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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