Enagás of Spain signed a financing deal worth a total of €1.2 Bn. The facility, a self-arranged Club Deal, will be used to refinance and extend the company’s lines of credit from three to five years.
The funds are earmarked for optimising Enagás’s liquidity and financial structure, and the deal will contribute to hitting the profitability and debt targets established in the 2013-2015 Strategic Update.
The financial institutions party to the deal are BBVA, Banco Santander, Barclays, BNP Paribas, Caixabank, Citibank, Mediobanca, Natixis, Société Générale, Crédit Agricole, Intesa San Paolo, JPMorgan and Mizuho. The line of credit has been arranged with a number of international banks, which have jointly contributed more than 70% of the total funds.
LNG World News Staff, December 12, 2013; Image: Enagás