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Enel SpA's Subsidiary Enel Distribuzione SpA to Receive EUR 380 Million Loan from European Investment Bank
Enel SpA announced that its wholly-owned subsidiary, Enel Distribuzione SpA, has signed an agreement with the European Investment Bank (EIB) for a EUR 380 million loan aimed at covering a portion of Enel Distribuzione's investments relating to efficiency improvements in the Italian electricity grid provided for in Enel Distribuzione’s 2012-2014 business plan. The investments financed by the loan are intended to upgrade the national distribution grid, with more than 37% of the spending allocated for works in Southern Italy. The 20-year financing agreement (maturing in 2032) has a five-year grace period (until 2018). The funds will be disbursed by the end of 2012 and secured by a Parent Company guarantee provided by Enel.
Latest Developments for Enel SpA
- Enel SpA Authorizes Issue of Hybrid Financial Instruments
- Enel SpA to Propose FY 2012 Dividend; Issues FY 2013 EBITDA In-Line With Analysts' Estimates; Issues FY 2013 Net Income Guidance, FY 2015 Guidance Below Analysts' Estimates; Issues FY 2017 Guidance
- Enel SpA Signs Five-Year Forward Starting Revolving Credit Facility For Approximately EUR 9.4 Billion
- Fitch Ratings Affirms Its Ratings On Enel SpA-Reuters
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