BARCLAYS, Chase Manhattan, Citibank and Greenwich NatWest have launched general syndication of the $1.25bn working capital facility for National Power, a credit likely to be the last UK jumbo of 1998. The loan consists of a $500m 364 day facility that carries a drawn margin of 27.5bp over Libor and an extra 7.5bp if more than 50% is used with a commitment fee of 10bp, and a $750m five year tranche that carries a margin of 25bp plus an extra 5bp if more than 50% is drawn and a commitment fee of 12.5bp.
November 20, 1998