Red Eléctrica de España (REE) has today formalised a 5-year credit line for €800 million, which has the possibility of being extended for two additional years.This transaction strengthens the solid liquidity position of the Company, allowing to cover the current €600 million credit line that matures in July 2016.

The credit line has a 0.60% margin tied to Euribor, which could vary depending on Red Eléctrica's credit rating throughout the term of the loan. Some of the main Spanish and international financial institutions operating in Spain participate in the bank syndicate, demonstrating the strong support given to Red Electrica de España by the financial community. The eight participants are BBVA, Banco Santander, Barclays Bank, BNP Paribas Fortis, CaixaBank, Citibank International, ING Bank and The Bank of Tokyo-Mitsubishi, with BBVA being the agent bank.

The credit terms and conditions have been defined in harmony with an environment characterised by improved financial conditions and reflect, in addition to the good credit quality of REE, the strategy of the Company to adapt to the new regulatory framework, following the publication in December 2013 of the new Electricity Sector Act.

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