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Enel renegotiates 9.4 billion euro revolving credit line
February 12, 2015 / 4:22 PM / 3 years ago

Enel renegotiates 9.4 billion euro revolving credit line

People walk past the logo of Italy's biggest utility Enel at their Rome headquarter November 11, 2014. REUTERS/Tony Gentile

MILAN (Reuters) - Italy’s top utility Enel (ENEI.MI) said on Thursday it had renegotiated a revolving credit facility of around 9.4 billion euros (7 billion pounds), cutting its costs and extending its maturities.

Enel, one of Europe’s most indebted utilities, said the facility was not connected to its debt refinancing programme but was designed to provide flexibility in managing day-to-day cash requirements.

The facility’s maturities have been extended to 2020 from April 2018, it said.

Reporting by Stephen Jewkes; editing by Agnieszka Flak

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