The ESB has raised €2.5 billion in credit facilities from a syndicate of 15 banks.
The facilities consist of an acquisition-related term loan of £810 million (approximately €970 million) to be used to part-fund the proposed acquisition of Northern Ireland Energy which was announced on 7 July.
In addition, the sum includes two revolving credit facilities of €1.5 billion in aggregate to be used as ESB's primary source of standby liquidity and which will replace ESB's current principal revolving credit facility agreement. These two revolving credit facilities have terms of four and five years respectively.
Money in a revolving credit facility can be reborrowed again once it has been repaid.
ESB and a number of its subsidiaries, including ESB Finance Limited, will be parties to the agreement as borrowers. In addition, ESB and ESB Finance Limited will guarantee the obligations of all obligors under the terms of the agreement.
