THE ENEL BOND PUBLIC OFFERING ADDRESSED TO ITALIAN RETAIL INVESTORS HAS SUCCESFULLY CLOSED

Published on miércoles, 12 diciembre 2007

  • After the success in 2005 of the bond issue reserved to Italian retail investors for 1 billion euro, Enel, this year, doubles its issuance with the public to 2.3 billion euro. Of these, over 1 billion are fixed rate bonds and approximately 1.3 billion floating rate ones.
  • Reduced to 19.5 billion euro the credit facility pursuant to the 35 billion euro Credit Agreement entered last April to finance the Endesa acquisition.


Rome, 12 December 2007 – The offering period for the fixed rate bonds (called “ENEL TF 2007-2015”) and the floating rate bonds (called “ENEL TV 2007-2015”), reserved to Italian retail investors, successfully closed on 7 December 2007, being high in demand with the public.

In order to face the high demand of the offered bonds (equal to approximately 1.050 billion euro for the fixed rate bonds and about 1.3 billion euro for the floating rate bonds), compared to the initial maximum aggregate amount of the offering (equal to 2 billion euro), Enel, in agreement with the lead managers (Banca IMI and UniCredit), has decided to increase the initial offer.
 
The total number of bonds that have been subscribed are: (i) as regards the fixed rate bonds, 1 million bonds, representing a total nominal value of 1 billion euro, allotted to 47,556 investors; (ii) as regards the floating rate bonds, 1,300,000 bonds, representing a nominal value of 1,300,000,000 euro, allotted to 47,119 investors.

Including the issue hereof, Enel will publish a notice to the public, within five working days from closure of the offering, in a financial-economic newspaper. The notice will contain all the information concerning: the nominal interest rate in relation to the fixed rate bonds, the spread in relation to the floating rate bonds, as well as the issue and the interest commencement date, the maturity date and the dates on which interest is due for each tranche of the bond.

Enel brings the counter-value of the bonds issued in the past 6 months to 10 billion euro. 9 billion euro have been used to re-finance the 35 billion euro credit facility pursuant the Credit Agreement entered last April, to finance the Endesa acquisition. More specifically, 2 out of the 2.3 billion euro gained from the retail bonds will be used to re-finance the 35 billion euro credit facility, which will therefore be reduced to 19.5 billions euro.

Price Sensitive | diciembre, 12 2007

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