PRAGUE - (Dow Jones)- Slovakia's leading electricity company Slovenske Elektrarne, 66%-owned by Italy's Enel SPA, said on its Web site Tuesday it closed a EUR 800 million financing deal with a consortium of banks, the largest corporate financing deal in Slovakia to date.
Slovenske Elektrarne concluded a revolving credit line for seven years to finance its investments, which will reach 110 billion koruna ($4.65 billion) by 2013, the company said.
The power company is planning to complete construction of the third and fourth 440 megawatt reactor units at its Mochovce nuclear power plant by 2013.
The winning consortium of nine banks on the credit line has five mandated lead arrangers, including units of ING Groep NV, Calyon S.A., Mizuho Corporate Bank Ltd., Intesa Sanpaolo SPA and KBC Group NV.
Lead arranger was Slovenska Sporitelna AS, a unit of Erste Bank AG (EBS.VI).
Enel is providing no guarantee to Slovenske Elektrarne on the credit line, which is based on the reference interest rate plus a 0.325 percentage point spread.
The electricity company said it plans to start gradually drawing on the credit next year.
Enel bought its controlling stake in Slovenske Elektrarne for EUR840 million in 2006. The remaining shares are owned by the Slovak state.