Two thirds of the facility is comprised of a one-year maturity with a one-year extension option at E.ON’s discretion (tranche A) and one third with a three-year maturity (tranche B). The facility is expected to be refinanced through various debt capital market issues, internal liquidity sources and, if necessary, asset disposals and/or a capital increase.
BNP Paribas, Citigroup, Deutsche Bank, HSBC Bank, JP Morgan and The Royal Bank of Scotland acted as bookrunners and underwriters for the loan.
This E37.1 billion loan represents the world’s largest ever syndicated financing facility and indicates the international financial market’s confidence in E.ON and its support for the Endesa bid, commented Erhard Schipporeit, E.ON’s CFO. We have clear plans for the financing and re-financing of our bid and are presenting a strong, well planned case.
E.ON’s share price rose slightly following new of the loan being completed.