ENEL: BOARD OF DIRECTORS APPROVES BOND ISSUE UP TO 5 BILLION EUROS

Published on Thursday, 16 June 2011

Rome, June 16th, 2011 – The Board of Directors of Enel SpA met today under the chairmanship of Paolo Andrea Colombo and, as part of its strategy to extend the average maturity of consolidated debt and with a view to optimising its medium and long-term maturity profile, approved the issue of one or more bonds by December 31st, 2012, for a total amount of up to 5 billion euros. The bonds will be placed with institutional or retail investors, depending upon the opportunities presented by the market.

The bonds may be issued directly by Enel SpA or by its Dutch subsidiary Enel Finance International NV (guaranteed by the Parent Company), the latter based on the opportunities that may be available for placement of the bonds on foreign regulated markets.

The Board of Directors delegated to the CEO the task of allocating the bond issues between the two above-mentioned companies and setting the amounts, currencies, timing and characteristics of the individual issues, with the option of seeking a listing on one or more regulated markets.

The Board of Directors also revoked its previous resolution of March 2nd, 2011 that had authorized the issue of one or more bonds by December 31st, 2011, to be placed with institutional investors, for a total amount of up to 1 billion euros, maintaining the validity and effects of the bonds issued under such resolution.

In implementation of the Board resolution of March 2nd, 2011, Enel Finance International NV carried out the following transactions (guaranteed by the Parent Company) with institutional investors:

¿ two private placements during March 2011 for a total of 200 million euros, with a weighted average maturity of about 20 years and an average rate of about 5.78%;
¿ a bond issue on May 27th, 2011 for a total of 250 million Swiss francs (about 205 million euros), with a weighted average maturity of 6.3 years and with a euro swap at an average rate of 3.96%;
¿ a private placement on June 6th, 2011 for a total of 11.5 billion yen (about 100 million euros), with a maturity of 7 years and with a euro swap at a rate of 3.915%.

Price Sensitive | June, 16 2011

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