EP Energy signed EUR 1.0 billion banking financing, the largest deal ever for a Czech corporate borrower
31.10.2012Company: Amcham
EP Energy, a.s. (“EPE” or the “Company”) successfully signed a EUR 1.0 billion, 6-year senior facility agreement with the consortium of banks (the “Facility Agreement”). The facilities comprise of three tranches: two long term loans - a EUR 502 million amortising term loan facility and approximately CZK 10.5 billion term loan facility, and, a EUR 75 million revolving credit facility or its equivalent in CZK (the “Facilities”). The purpose of the Facilities is to provide for consolidated financing of a group of companies controlled by EPE.
The Transaction
EP Energy, a.s. (“EPE” or the “Company”) successfully signed a EUR 1.0 billion, 6-year senior facility agreement with the consortium of banks (the “Facility Agreement”). The facilities comprise of three tranches: two long term loans - a EUR 502 million amortising term loan facility and approximately CZK 10.5 billion term loan facility, and, a EUR 75 million revolving credit facility or its equivalent in CZK (the “Facilities”). The purpose of the Facilities is to provide for consolidated financing of a group of companies controlled by EPE.
With this transaction EPE has signed the largest committed banking deal ever for a Czech corporate borrower. This landmark transaction exclusively tapped the domestic loan market and changed the perception of the liquidity available thereon.
The Banks
The financing was solely coordinated by UniCredit and arranged by five Mandated Lead Arrangers and Bookrunners, being Česká spořitelna, ČSOB, ING, Komerční banka and UniCredit.
The Transaction was supported by Citibank, Commerzbank, HSBC, Raiffeisenbank, RBS and Volksbank.
UniCredit acted as both Facility and Security Agent.
The Legal Advisors
White & Case acted as legal advisor to the Lenders.
The Company
With a leading position in the Czech energy market EPE group includes more than 30 companies operating in electricity and heat generation, electricity trading or renewables. For 2011, total consolidated EBITDA of the companies in the group amounted to CZK 7.2 billion. The group companies employed some 6200 people and in 2011 generated sales totalling CZK 39.4 billion in aggregate.
