BBVA takes part on the 500 million euro bank loan agreement of the Italian company EdisonJuly 16, 2013
BBVA has participated as Mandated Lead Arranger in the 500 million euro bank loan agreement of the energy company Edison Spa among with other banks, namely Banca IMI-Intesa San Paolo, BNP Paribas-BNL., Crédit Agricole CIB, Mediobanca and Unicredit.
The loan, arranged as a Club Deal without any syndication, strengthens the relationship between BBVA and Edison, thereby confirming BBVA as a strategic partner assisting the company in its growth.
This club deal follows the reorganization that was undertaken last year with the acquisition of Edison by the French company EDF. The deal, which has been structured as an unsecured Revolving Credit Facility expiring on January 2015, is part of a wider refinancing plan, launched last April when Edison entered into two loans, totalling 1,400 million, granted by EDF Group companies.
For BBVA CIB this operation represents a good case of infra Europe cross border transaction (Italy and France) and an example of corporate collaboration between teams, in this case the French and Italian, who worked together on this dossier.