Portugal's EDP Gets EUR800 Million Loan From Bank of China
22 October 2012 - 10:09PM
Dow Jones News
By Patricia Kowsmann
LISBON--Portugal's EDP-Energias de Portugal SA (EDP.LB) said
Monday that it signed a 800 million euro ($1.04 billion) loan with
Bank of China Ltd. (3988.HK).
The three-year loan has a margin of 350 basis points over the
three-month Libor rate and will be used for general corporate
purposes, EDP said in a statement.
Earlier this year, the energy company received a five-year EUR1
billion loan from another Chinese bank, the China Development Bank
Corp., paying a margin of 480 basis points over the six-month
Euribor.
EDP is 21%-owned by China's Three Gorges Corp. after the
government sold its stake under Portugal's bailout program.
Write to Patricia Kowsmann at patricia.kowsmann@dowjones.com
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