Endesa Italia Signs Debt Refinancing Deal with Seven European Financial Institutions.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- ENDESA S.A. (NYSE NYSE See: New York Stock Exchange :ELE ELE equine leukoencephalomalacia. ) --With the Euro 700 million term loan facility, ENDESA Italia will be able to lower debt costs and extend its maturity profile. --ENDESA Italia has been able to fund its investments in Italy, which include a major repowering plan for its plants without having to turn to shareholders. ENDESA Italia, partly owned by ENDESA S.A. (NYSE:ELE), has reached an agreement to refinance its debt and signed today a Euro 700 million term loan through 7 MLAs: Mediobanca, Sanpaolo IMI, BBVA BBVA Banco Bilbao Vizcaya Argentaria (First Bank of Spain) , BayernLB, ABN AMRO, BSCH BSCh abbr. Bachelor of Science in Chemistry and Caja Madrid. The refinancing agreement will enable ENDESA Italia to reduce its debt-interest expenses and extend debt maturity. The Facility has a maturity of five years with two one-year extension options, which can be exercised at the end of the 5th and 6th year. The loan carries an initial margin of 7.5bp and after the first year will be adjusted according to the ratio of Net debt/EBITDA at levels between 25bp and 35bp. The Banks have joined the deal at the following take and hold amount: Mediobanca and Sanpaolo IMI, Euro 200 million each; BBVA and BayernLB, Euro 75 million each; and ABN AMRO, BSCH and Caja Madrid, Euro 50 million each. ENDESA Italia has been able to fund its investments in Italy, which include a major repowering plan for its plants without having to turn to shareholders. This document may contain certain forward-looking statements regarding anticipated financial and operating results and statistics that are subject to risks and uncertainties as well as to material risks, changes and other factors which may be difficult to predict, including, without limitation, those factors described in the Folleto Informativo Continuado of Endesa filed within the Comision Nacional del Mercado de Valores and in the Form 20-F of Endesa filed within the Securities and Exchange Commission, both for the fiscal year ended December 31, 2003. For all of these forward-looking statements, we claim the protection of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statements contained in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. |
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