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Italy’s Terna signs EUR85 million loan agreement with EIB [free access]

June 27, 2017

Italy’s transmission system operator (TSO) Terna Rete Italia S.p.A. has signed an agreement with the European Investment Bank (EIB) for a loan worth EUR85 million, with a maturity of 22 years.

 

The funds will be directed to support the planned investments in the Capri-Continent electrical connection that involves construction of the first ever connection of Capri Island to the mainland of Italy via a 30-km long high voltage submarine power line. They will also be used in the restructuring of the grid in the Sorrento Peninsula area that includes the construction of a new 150 kV grid by replacing the existing 60 kV lines.

 

The loan agreement envisages a 1.386 per cent fixed-rate tranche amounting to EUR73.55 million,

and a  Euro Interbank Offered Rate  (Euribor), 6-month-rate plus 0.343 per cent floating-rate tranche, subject to the satisfaction of certain conditions precedent, amounting to EUR11.45 million.

 

(EUR1=USD1.14)