Constellation closes credit facility

Constellation Energy has closed on a $1.23bn 364-day credit facility with UBS Loan Finance and RBS Securities Corporation.

According to Mayo A. Shattuck, chairman, president and chief executive officer of Constellation, the completion of the facility will help stabilize the business by strengthening its liquidity position and reducing risk.

The company, which is currently completing a merger deal with MidAmerican Energy, had previously announced the facility could be for as much as $2bn and would close on 31 October. However, on that day Constellation issued a statement detailing a revised estimate for the commitment

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