DOW JONES NEWSWIRES

Terna SpA (Milan:TRN) (TRN.MI), Italy's biggest power grid company in terms of transmission lines, said Thursday it has secured a EUR650 million syndicated loan with a group of five banks and a revolving credit line for EUR500 million.

In a statement sent to the Italian stock exchange, the company said the loan will have a 7-year maturity and the spread on the loan is 50 basis points over the EURIBOR. Meanwhile, the five-year credit line will have a 70-basis point spread over EURIBOR.

"Both lines, together with the existing unused credit facilities, will grant Terna the necessary flexibility in covering its financial needs as established in the industrial plan," the company said.

The banks granting the loan are Banco Bilbao Vizcaya Argentaria SA (NYSE:BBV) (BBV), Societe Generale (13080.FR), BNP Paribas SA (Euronext:13110) (13110.FR), (BTK.YY) and Dexia Crediop.

Terna signed the credit line with Royal Bank of Scotland Group PLC (NYSE:RBS) (RBS.LN) and Banco Santander SA (NYSE:STD) (STD).

Company Web site:

-By Enza Tedesco, Dow Jones Newswires, enza.tedesco@dowjones.com

    (END) Dow Jones Newswires   06-26-08 1903   Copyright (c) 2008 Dow Jones & Company, Inc.