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Constellation Energy seeks support for $2 billion loan

Posted on 03 October 2008

From Reuters: The Royal Bank of Scotland and UBS have begun syndicating a critical $2 billion liquidity facility for Constellation Energy Group.

Constellation Energy is currently subject of a takeover play by Warren Buffett’s MidAmerican Energy Holdings and a potential joint bid by KKR and French utility EDF. The loan is one of the few deals testing bank appetite in a generally frozen loan market. Constellation, which is under capital and financing pressure due to commodity and counterparty risk, is offering rich premiums to entice banks to support its facility, sources added….. Full Article: Source


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