Terna agrees 650 mln eur bank loan, 500 mln eur revolving credit line

MILAN (Thomson Financial) - Terna SpA said it has signed an agreement for a 650 million euro bank loan and a revolving credit line for 500 million euros. They will be used to provide the company with the financial flexibility to fund its industrial plan, the company said.

The syndicated bank loan was signed with BBVA (Madrid: BBVA.MC) , Societe Generale (Paris: FR0000130809), BNP Paribas (Paris: FR0000131104) , Bank of Tokyo-Mitsubishi (Munich: 857124) and Dexia Crediop, Terna (Milan: TRN.MI) said.

The loan will have a 7-year maturity with a credit spread equal to 50 basis points over Euribor.

The revolving credit line was signed with Royal Bank of Scotland (LSE: 91ID.L) and Banco Santander (SANB3.SA) .

It is available for five years with a credit spread equal to 70 basis points over Euribor, that may vary according to the percentage of the line used and to the credit assigned by the rating agencies, Terna said.

source: http://uk.biz.yahoo.com/27062008/323/terna-agrees-650-mln-eur-bank-loan-500-mln-eur.html