Swiss utility Axpo increases syndicated credit lines to 5.3 bln euros – Reuters

ZURICH, Oct 11 (Reuters) – Axpo Holding AG [RIC:RIC:AXPOH.UL], the Swiss power group that got an emergency 4 billion Swiss franc ($4.00 billion) credit line from the state this year, has increased its committed syndicated credit lines with banks to 5.3 billion euros ($5.13 billion), it said on Tuesday.

Axpo signed an additional one-year unsecured credit facility of 2.3 billion euros with an international bank consortium. The new facility can be extended unilaterally for a year. The credit facilities are flexible, can be used for both bank guarantees and loans, and are available for general corporate purposes, it said in a statement.

($1 = 1.0007 Swiss francs)

($1 = 1.0330 euros)

Reporting by Michael Shields, Editing by Miranda Murray

Our Standards: The Thomson Reuters Trust Principles.

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