7
if the SPT is not achieved, a step-up mechanism will be applied, increasing the rate by 25 bps
as of the first interest period subsequent to the publication of the report issued by an expert
external verifier in respect of the intensity of direct greenhouse gas emissions and the
methodology for measuring CO2eq emissions applied by the Enel Group.
A Euro 1,000 million euro "Sustainability-Linked Bond" in the Eurobond market
On 6 September the Company launched a Sustainability-Linked Bond for institutional investors in the
Eurobond market for a total of Euro 1,000 million euros.
The bond issue is linked to the Key Performance Indicator (KPI) related to the intensity of direct
to or less than 140gCO2eq/kWh on 31 December 2024.
The issuance is structured as a single tranche of Euro 1,000 million euros paying a rate of 3.875%
maturing on 9 March 2029. The issue price has been set at 99.630% and the effective yield at maturity
is equal to 3.944%. The settlement date for the issue is on 9 September 2022.
The interest rate will remain unchanged to maturity, subject to the achievement of an SPT equal to or
lower than 140gCO2eq/kWh at 31 December 2024.
If the SPT is not achieved, a step-up mechanism will be applied, increasing the rate by 25 bps as of
the first interest period subsequent to the publication of the report issued by an expert external verifier
in respect of the intensity of direct greenhouse gas emissions and the methodology for measuring
CO2eq emissions applied by the Enel Group.
A multi-tranche USD 3,000 million sustainability-linked bond in the U.S. and international
markets
On 6 October 2022 the Company launched Sustainability-Linked Bonds for a total aggregate amount
of USD 3,000 million, equivalent to about Euro 3,075 million, aimed at institutional investors in the
US and international markets.
The transaction comprises the following four tranches:
- USD 750 million at a fixed rate of 6.800%, with settlement date set on 14 October 2022,
maturing 14 October 2025, issued by EFI and guaranteed by Enel:
the issue price was set at 99.435% and the effective yield at maturity is equal to 7.012%;
the interest rate will remain unchanged to maturity, subject to achievement of a Sustainability
Performance Targe 31 December 2023;
if the SPT is not achieved, a step-up mechanism will be applied, increasing the rate by 25 bps
as of the first interest period subsequent to the publication of the report issued by an expert
external verifier in respect of the intensity of direct greenhouse gas emissions and the
methodology for measuring CO2eq emissions applied by the Enel Group;
- USD 1,250 million at a fixed rate of 7.500%, with settlement date set on 14 October 2022,
maturing 14 October 2032, issued by EFI and guaranteed by Enel:
the issue price was set at 97.869% and the effective yield at maturity is equal to 7.811%;
the interest rate will remain unchanged to maturity, subject to achievement of a SPT equal to
or lower than 82gCO2eq/kWh at 31 December 2030;
if the SPT is not achieved, a step-up mechanism will be applied, increasing the rate by 25 bps
as of the first interest period subsequent to the publication of the report issued by an expert