Enel in Talks for €16 Billion Credit Line, Messaggero Says
- State-backed credit line could shield utility from derivatives
- Intesa, UniCredit reportedly set to contribute to credit plan
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Italy’s Enel SpA is in talks with banks on a new €16 billion ($15.8 billion) state-backed credit line to cover derivatives risks linked to spiking energy prices, according to people familiar with the matter.
Under the plan, the country’s trade-credit insurer Sace would provide guarantees for around 70% of the total amount, said the people, asking not to be named discussing confidential deliberations.