TotalErg has signed a 900 million euro loan with a group of Italian and foreign banks. The contract, which has a duration of five years, aims to favor the long-term development plan of the joint venture between Total and Erg. The loan is not assisted by real guarantees or guarantees from the two shareholders and consists of two lines of credit: a term of 400 million and a revolving of 500 million Euros.
The banks involved in the transaction include Bnp Paribas, Unicredit, Intesa Sanpaolo, Crédit Agricole, Ubi, Montepaschi, Merrill Lynch, Mediobanca, and Banca Popolare di Milano. BNL BNP Paribas Group was appointed Facility Agent and Issuing Bank of the transaction, while Banca IMI acted as Coordinating and Documentation Bank. In the transaction Citigroup acted as financial advisor to TotalErg.
