RLPC-Gas Natural 19 bln euro loan launches to snr lenders

LONDON, Sept 2 (Reuters) - Spanish utility Gas Natural's 19 billion euro ($27.57 billion) loan, which backs its acquisition of a majority stake in Union Fenosa UNF.MC was launched to senior syndication on Tuesday, a banker close to the deal said.

Senior banks have been invited to make take-and-hold commitments of 750 million euros, a banker said, adding that a bank meeting has been scheduled to take place in Barcelona in mid-September.

The loan has been fully underwritten by mandated lead arrangers Barclays, BNP Paribas, Caja Madrid, Citigroup, ING, La Caixa, Royal Bank of Scotland, Santander, Societe Generale and UBS.

The loan joins a handful of mammoth M&A-related financing loans, adding further pressure to a stretched syndicated loan market as banks struggle with funding costs. (Reporting by Zaida Espana; Editing by James Dalgleish)