E.ON: five billion euro loan to finance innogy deal
(CercleFinance.com) - German utility giant E.
ON has secured a five billion euro syndicated loan that will be will be used to fund the acquisition of its smaller rival innogy.
The deal consists of a 3 billion euros bridge loan and a 2 billion euro term loan maturing in five years, the energy group said.
Each "core relationship bank" has been invited to participate in the transaction with a ticket of 400 million each euros, E.ON said, adding that the financing shows that banks have "great confidence" in its strategy.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
ON has secured a five billion euro syndicated loan that will be will be used to fund the acquisition of its smaller rival innogy.
The deal consists of a 3 billion euros bridge loan and a 2 billion euro term loan maturing in five years, the energy group said.
Each "core relationship bank" has been invited to participate in the transaction with a ticket of 400 million each euros, E.ON said, adding that the financing shows that banks have "great confidence" in its strategy.
Copyright (c) 2018 CercleFinance.com. All rights reserved.