PF Archive

National Grid struggles to get backstop banked

04 12 2008

National Grid has signed banks into an extension of its 364 day commercial paper backstop facility. But the smaller size of the syndicate and the amount demonstrate how farcically tight theĀ bank market has becomeĀ for what should have been a straightforward deal.Rated Baa1/A-/BBB, National Grid renews its deal in November every year...