Electric Utilities
Elektrarne receives 3.6 billion euro loan as part of Slovakia's largest corporate debt refinancing
Slovenske Elektrarne, Slovakia's largest utility, announced on Wednesday that it had secured a loan facility of 3.6 billion euros ($3.75 billion), with a consortium of banks. This was the largest corporate debt refinancing ever in the Eurozone country. Lenders are providing 1.665 billion euro in an amortizing three-year loan. They will also provide an equal amount as a bullet-five-year term loan. There is also a revolving credit facility of 250 million euros. The company stated that the proceeds will be used for refinancing as well as corporate purposes. UniCredit was the global coordinator. Branislav Stycek, CEO of Slovenske Elektrarne said:...