Enel in Talks for €16 Billion Credit Line, Messaggero Says
Enel SpA is in talks with banks on a new €16 billion ($15.8 billion) state-backed credit line to cover derivatives risks linked to spiking energy prices, Italian daily Il Messaggero reported on Tuesday. Italy’s two biggest lenders, UniCredit SpA and Intesa Sanpaolo SpA, could contribute €5 billion each, while state-backed bank lender Cassa Depositi e Prestiti SpA, Banco BPM SpA and BPER Banca SpA would add €2 billion each, the newspaper said, without citing anyone. Under the plan, Italy’s trade-credit insurer Sace would provide guarantees for around 70% of the total amount, according to the report.
(IT.ENEL)