Commercial Paper Programme

In October 2001, Enel S.p.A. set up a Commercial Paper Programme allowing it to issue via Enel Investment Holding B.V. commercial paper up to a total value of Euro 1.5 billion (guaranteed by Enel S.p.A.).
In May 2004 the same programme has been updated increasing the total amount up to Euro 2.5 billion.
In November 2005, due to the reorganization of foreign companies of Enel group, Enel Investment Holding BV was replaced with Enel Finance International S.A. (guaranteed by Enel S.p.A.) and, as a result of growing demand from the investors, the total amount of the Programme was increased up to Euro 4 billion.

Arrangers:
Citibank International
Dealers:
ABN AMRO Bank N.V, Banc of America Securities Limited, Barclays Capital, Citibank International, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs International, HSBC France, Lehman Brothers, Societe Generale, UBS Limited