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Verbund Said to Seek € 750m Credit Line to Refinance

Published: September 20, 2011; 18:17 · (Vindobona)

Verbund AG, Austria’s biggest power company, is seeking a € 750m ($ 1bn) revolving credit facility to refinance maturing debt, according to a person with knowledge of the deal.

Verbund Said to Seek € 750m Credit Line to Refinance / Picture: © Verbund AG

According to Bloomberg, Verbund needs to refinance its mature loans. The five-year loan, which has two one-year extension options, will pay initial interest of 37.5 basis points more than the London interbank offered rate, said the person, who declined to be identified as the deal is private. It will replace a facility of the same size signed in 2005 that paid 20 basis points more than…

This article includes a total of 213 words.

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