Menu Sectors
Project Finance Copying and distributing are prohibited without permission of the publisher

Elettrogen: Endesa goes Italian

01 November 2001

Read more: [BOT] [project financing]

De-regulation of Italy's energy sector has promised big US-style acquisition financings. Leading the way is a Eu1.6 billion finance backing acquisition of state incumbent Enel's first spin off, Elettrogen. The consortium, comprising Endesa (45%), BSCH (40%) and Italian regional utility ASM-Brescia (15%), paid Eu2.63 billion for the 5400MW genco in July. Shares have now transferred to an intermediary holding company, Endesa Italia, although debt is being held in the operating company.

DrKW are sole lead arranger on the transaction, which was launched to a one-stage syndication in September. A spokesperson stated that they are quite pleased with the response and expect it to be wrapped up by the end of next week, adding that it is already oversubscribed.

Debt being raised is non-recourse to the project's shareholders, although insiders describe the deal as having a ?corporate flavour'. This refers to the loans' short-term nature and healthy liquidity of...

Latest Deals Database updates

Reading Civic Centre Update date 17/04/2014
Sector Social Infrastructure/PPP/P3/PFI > Social Housing
Country Europe - EU > UK
Total Debt Loan Amount
Status Preferred bidder
El Limon-Guajes Gold Update date 17/04/2014
Sector Mining/Metals > Metals
Country Latin America > Mexico
Total Debt Loan Amount
Status Finance mandated
Highway 407 East (Phase 2) Update date 17/04/2014
Sector Transport > Highway maintenance
Country North America > USA
Total Debt Loan Amount
Status RFP
Change font size: Switch to default font size Switch to medium font size Switch to large font size