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EDP Energias de Portugal SA Signs EUR 1.6 Billion Credit Facility

Thursday, 31 Jan 2013 12:20pm EST 

EDP Energias de Portugal SA announced that it has signed a five-year term loan facility in the amount of EUR 1,600,000,000 with a group of 16 domestic and international banks. The new facility will be used during 2013 to refinance two existing and fully draw loans: a EUR 925 million Revolving Credit Facility (RCF) signed in 2008 and maturing in April 2013, which will be early prepaid and cancelled, and a EUR 1,100 million RCF signed in 2006, to be repaid at maturity in November 2013. The 5-year tenor of the new facility, with a 50% amortization in the fourth anniversary, aims to extend the average life of EDP’s debt and reinforce financial flexibility. For the current rating level the facility bears an interest rate of Euribor plus 4 per cent. 

Company Quote

-2.58 -5.44%
9 Jul 2014