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Open Grid syndication launched

01 June 2012

The lead arrangers on the Eu3.2 billion ($3.9 billion) Open Grid acquisition financing have formally launched syndication on the debt. A group of nine banks - Bank of Nova Scotia, BNP Paribas, Commerzbank, Credit Agricole, EDC, ING, RBC, Societe Generale and UniCredit – underwrote Eu2.5 billion in debt in support of Macquarie’s bid, and are seeking to bring in lenders that supported the losing bidders.

In May, E.ON agreed to sell its Open...

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