The firm has assisted a syndicate of banks led by Mediobanca - Banca di Credito Finanziario S.p.A. acting as Documentation Agent, Bookrunner and Mandated Lead Arranger.

The deal consists in a revolving credit facility for up to EU 10 billion granted to Enel S.p.A. and its subsidiary Enel Finance International N.V. This replaces the pre-existing EU 9.44 billion facility which was renegotiated in February 2015.

The new credit line has a lower cost and a longer maturity. The aim is to give the Enel Group a flexible and practical instrument for the management of working capital.

The Enel Group is a multinational energy company and one of the world's leading integrated electricity and gas operators. Spanning across 37 countries and five continents (to include, Europe, North America, Latin America, Africa and Asia), the Group generates energy with a net installed capacity of around 84 GW. It also distributes electricity and gas across a network of about 2.1 million km.

The Simmons & Simmons team, who assisted the syndicate of banks on all Banking & Finance aspects, was led by partners Nicholas Lasagna and Davide D'Affronto (Milan), as well as Jan-Joost van Rijsbergen (Amsterdam), in relation to the Dutch law aspects, with support from supervising associate Fabrizio Nebuloni and associate Paulien Alberts.

Commenting on the transaction, partner Nicholas Lasagna said: "The firm's leading role on this big ticket financing represents a strong recognition from the market of the excellence of our Banking & Finance capabilities in Italy and internationally. It was a very complex transaction involving several Italian and international banks.”