RLPC-Finmeccanica seeks 2.4 bln euro refi loan-bankers

LONDON, July 28 (Reuters) - Italian defence and aerospace group Finmeccanica (SIFI.MI) is asking lenders for a 2.4 billion euros ($3.10 billion) loan refinancing, bankers said on Wednesday.

The five-year revolving credit facility will refinance an existing 1.2 billion euros facility dated 2005 as well as the rump of a 650 million euros loan due to expire in 2011.

Finmeccanica, which is effectively self-arranging the loan, is offering to pay lenders an initial interest margin of 75 basis points (bps) over EURIBOR, and a commitment fee of around 35 bps, the bankers said.

There are also utilisation fees on offer depending on how much of the facility is drawn: lenders will receive around 20 bps if more than one third of the loan is used, or around 40 bps if more than two thirds are drawn.

Lenders are taking the proposal through their internal credit committees this week and are expected to commit to the loan by Aug. 4, according to one banker.

A Finmeccanica spokesperson declined to comment.

Prospective participating banks have been invited to participate with top tickets of 250 million euros, and two other levels of commitment below that.

Finmeccanica is 30 percent owned by the Italian Treasury and has split ratings of BBB by Standard & Poor's, BBB+ by Fitch and A3 by Moody's.

Thomson Reuters LPC data shows the company's 2005-dated 1.2 billion euros revolving credit loan paid an initial margin of 22.5 basis points and is due to expire in December 2010.

A second banker said that the 650 million euros revolving credit loan was part of a loan backing the acquisition of US defence firm DRS Technologies in 2008.

(Reporting by Zaida Espana; additional reporting by Paolo Biondi in Milan; editing by Elaine Hardcastle)