EDP Energias de Portugal S.A. (EDP) has signed a three year revolving credit facility (RCF) in the amount of EUR1.6 billion. This RCF replaces the EUR1.3 billion RCF signed in 2004 that was due to mature in July 2009, keeping the same purpose: backup credit facility. The credit line is not currently under use. The RCF was self-arranged as a club deal and was participated by 19 domestic and international banks.
The transaction, initially targeted at EUR1,000,000,000, closed with an amount 1.6x higher, demonstrating EDP’s strong credit profile under current adverse conditions in the international financial markets.
Mandated Lead Arrangers are Banco Popular Espanol, S.A., Banco Santander, Barclays Capital, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Caixa – Banco de Investimento, S.A., ING Wholesale Banking, J.P. Morgan, Caixa d’Estalvis i Pensions de Barcelona, la Caixa, Banco Comercial Portugues S.A. – Sucursal Financeira Internacional, Morgan Stanley, The Royal Bank of Scotland Plc, Societe Generale and UBS Investment Bank. Lead Arrangers are Banco Bilbao Vizcaya Argentaria, SA, Banco Espirito Santo, Banco BPI, Caja Madrid, Citi and Deutsche Bank Luxembourg S.A. Bank of Tokyo-Mitsubishi acts as a Facility Agent.