RLPC-Banks join ACS's 1.5 bln euro forward start loan

LONDON, July 14 (Reuters) - The 1.5 billion euro forward start loan extension for Spanish construction and energy firm ACS (ACS.MC) is gathering commitments before an end-July deadline, three bankers close to the deal said on Tuesday.

Calyon and Natixis joined on launch as co-ordinators and a third bank has also committed to the deal, two of the bankers said.

Under a forward start agreement lenders typically extend the maturity of all or part of the loan before its expiry date in exchange for an increase in interest margin and fees.

The positive response means that ACS is likely to succeed in extending the maturity of its 1.5 billion euro ($2.10 billion) loan for another two years until July 22 2012, the two bankers added.

No one at ACS could immediately be reached for comment.

The positive reception for the loan is due to a strong banking group, and an increased interest margin of 250 basis points over EURIBOR, two of the bankers said.

ACS' existing five-year loan from 2005 paid 25 bps over EURIBOR, according to Thomson Reuters LPC data.

Banks are being invited to commit 80 million euros for fees of 150 bps, the two bankers said.

The loan is being coordinated by six banks -- Barclays, BBVA, Caja Madrid, La Caixa, Calyon and Natixis. ($1=.7149 euros) (Reporting by Zaida Espana; additional reporting by Paul Day in Madrid; Editing by Greg Mahlich)