Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Enel Said to Seek $6.7 Billion Credit Line to Extend Facility

Enel SpA, Italy’s biggest power company, is seeking a 5 billion-euro ($6.7 billion) credit line to extend a facility due in 2015, according to five people with knowledge of the deal.

The company sent lenders a request last week for the five-year loan, said the people, who asked not to be identified as the terms are private. Banks have two weeks to commit to the forward-start loan, locking in financing terms before the existing debt matures, the people said.

Enel, based in Rome, is offering to pay initial interest of 195 basis points more than the euro interbank offered rate if it uses the facility, two of the people said. The margin will rise to 225 basis points if the credit line is fully drawn, they said. A basis point is 0.01 percentage point.

The new loan will replace Enel’s 10 billion-euro revolving credit facility maturing April 2015 that paid initial interest of 85 basis points more than benchmarks, the people said. Under a revolver, repaid money can be borrowed again.

A Rome-based spokeswoman for Enel declined to comment on the transaction and asked not to be identified citing company policy.

Enel has ratings of BBB+ from Standard & Poor’s and Fitch Ratings, the third-lowest investment-grade ranking, and a Baa2 grade from Moody’s Investors Service.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.