Spain’s Gas Natural Company has recently announced that it has increased a cap for issuing euro medium term notes (EMTNs) to 10 billion euros ($14.57 billion) as against 8 billion euros earlier.

According to the statement issued by the company, the agreement was managed by La Caixa, Barclays Capital, Credit Agricole, ING, RBS, Societe Generale, BNP Paribas, Caja Madrid, Citi, J. P. Morgan, Santander and UBS.

The company has already issued EMTNs worth 5.275 billion euros in 2009 and now it has the option of issuing another 4.725 billion.

While talking to reporters, the Chief Executive of the company, Rafael Villaseca said, “Gas natural intended to issue another 1.2 billion euros of EMTNs.”

Earlier, Gas Natural has taken a debt to finance its 16.7 billion euro bid to buy utility Union Fenosa later this year, and it is due to pay back 12 billion by February 6 of next year.