ING leads €2.8B revolving credit facility for Dutch grid operator Alliander
What's the deal? Dutch electricity and gas grid operator AllianderDealroom has a profile for this one. Try Dealroom → has secured a new €2.8 billion revolving credit facility, coordinated by ING and provided by a syndicate of eight banks. The facility runs for five years to October 2031, with two one-year extension options. It replaces Alliander's previous undrawn revolving credit facilities of €2.4 billion.
How big is it? The facility ranks among the largest debt deals in its class. By amount, it sits in the 98th percentile of debt rounds in the Netherlands energy sector over the past 48 months, across a sample of 994 deals.
Why now? Alliander's funding needs are climbing alongside its grid-expansion programme. It invested €1.09 billion in the first half of 2026, up 12% year on year, and says annual investment will top €2.2 billion in the coming years.
What's the money for? The facility serves as a liquidity backstop rather than an equity-style raise. Alliander's half-year report showed a €715 million rise in net debt and negative cash flow of more than €700 million; it also issued €1 billion in green bonds in April.
The signal: The Dutch grid build-out is pushing utilities to shore up borrowing capacity. Peer EnexisDealroom has a profile for this one. Try Dealroom → holds an undrawn €1.4 billion revolving facility and has added European Investment Bank financing, underlining how capital-intensive the energy transition has become for the country's network operators.
Read more: cliffordchance.com
Image credit: Evert Kuiken
