Iberdrola steps forward, ArcelorMittal looking
Spanish energy group Iberdrola has become the latest borrower to secure a forward start facility, extending Eu3.8bn of a Eu5.3bn loan maturing in November. Most of the extended debt now matures in 2012. ArcelorMittal, the Luxembourg-based steel maker, has agreed in principle to extend $4.8bn of syndicated loans maturing in 2010 and 2011. The new facilities extend the tenors until 2012. Read about ArcelorMittal’s deal later today at euroweek.com/loans.