MADRID - Spain's Gas Natural said on Wednesday it had raised a cap for issuing euro medium term notes (EMTNs) to 10 billion euros ($14.57 billion), up from 8 billion previously.

Gas Natural added in a regulatory filing that the deal 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 for 5.275 billion euros this year, so it has the option of issuing another 4.725 billion.

Chief Executive Rafael Villaseca said in November that Gas natural intended to issue another 1.2 billion euros of EMTNs.

Gas Natural took on debt to finance its 16.7 billion euro bid to acquire utility Union Fenosa earlier this year, and is due to pay off 12 billion by Feb. 6, 2010. ($1=.6864 euros) (Reporting by Clara Vilar; Writing by Martin Roberts; Editing by Greg Mahlich)

Investment BNP Paribas