UPDATE 1-CIR energy unit gets 600 mln eur loan

Wed Jul 15, 2009 6:40pm BST
 
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* loan to fund financial structure, generating capacity

* previous credit facility extended

(Adds details, background)

MILAN, July 15 (Reuters) - Sorgenia, the energy unit of Italian holding company CIR (CIRX.MI), has signed a 600 million euro credit facility to strengthen its financial structure and fund new generating capacity, CIR said on Wednesday.

The loan is for a period of ten years, CIR said in a statement.

It said the banks involved in the club deal are Mediobanca Banca di Credito Finanziario (MDBI.MI), Banca Monte dei Paschi di Siena (BMPS.MI), Intesa Sanpaolo (ISP.MI), UniCredit Mediocredito Centrale (CRDI.MI), WestLB AG and Banca Popolare di Lodi (BAPO.MI).

The credit facility signed in July 2007 with Monte dei Paschi di Siena, whose outstanding amount is 162 million euros, to fund the gas-fired plant at Termoli in southern Italy has also been extended to 2019, it said.

Sorgenia, Italy's biggest privately owned energy group, is CIR's largest business.  Continued...

 

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