EDP signed credit facility of €2,000,000,000
EDP – Energias de Portugal (EDP) has signed a five year revolving credit facility in the amount of €2,000,000,000.
EDP – Energias de Portugal (EDP) has signed a five year revolving credit facility in the amount of €2,000,000,000.
This revolving credit facility replaces the €1,600,000,000 RCF signed in 2009 that was due to mature in March 2012, keeping the same purpose: backup credit facility. The credit line is not currently under use.
The transaction, initially targeted at €1,600,000,000, was 1,4x oversubscribed, allowing EDP to close the new facility at €2,000,000,000, demonstrating EDP's strong credit profile under current adverse conditions in the international financial markets.
If drawn, the new facility will pay a margin of 90 basis points over EURIBOR, comparing favourably with the terms of the prior facility, which paid a base margin of 150 basis points over Euribor.
The new facility was self-arranged as a Club Deal and was participated by 21 domestic and international banks. "Bookrunners & Mandated Lead Arrangers" are Banco Bilbao Vizcaya Argentaria, S.A., Barclays Capital, BNP Paribas, Citi, HSBC Bank plc Sucursal en España, ING Commercial Banking, Mizuho Corporate Bank Nederland N.V, Société Générale Corporate & Investment Banking, The Royal Bank of Scotland plc, Unicredit Luxembourg S.A. "Mandated Lead Arrangers" are Banco Popular Español, S.A, Caixa – Banco de Investimento, S.A., Deutsche Bank Luxembourg S.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd. "Lead Arrangers" are Banco Comercial Português S.A., Banco Espirito Santo, Banco Itaú Europa, S.A., Banesto, Caja de Ahorros y Pensiones de Barcelona "la Caixa", Sabadell, Santander Global Banking & Markets. The Bank of Tokyo-Mitsubishi UFJ, Ltd. acts as a Facility Agent.
EDP – Energias de Portugal, S.A.
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