Enel SpA (ENEL.MI), Italy's biggest utility by market value, said Wednesday it merged two international financing units to optimize its activities abroad and to cut costs.
Enel SpA (ENEL.MI),
Italy
's
biggest utility by market value, said Wednesday it merged two international
financing units to optimize its activities abroad and to cut costs.
As of today, Luxembourg-based Enel Finance International SA, or EFI, and the
Netherlands-based Enel Finance International NV have merged, said the Italian
utility.
All assets, liabilities and obligations of EFI, as well as its base, will be
transferred to Enel Finance NV.
EFI is an issuer of notes under the EUR25 billion global medium-term note
program, and of the EUR6 billion commercial paper one. It is also the borrower
of the EUR35 billion Endesa credit facility agreement, the EUR8 billion
rollover credit facility agreement and the EUR10 billion revolving credit
facility agreement.
The Italian utility said it will continue to guarantee the obligations under
the commercial paper and GMTN programs.
Enel became
Europe
's most indebted European
utility after buying a 92% stake in
Spain
's
Endesa SA (ELE.MC).
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