- Orders for approx. 11 billion US dollars exceeded offer amount by about 3 times
- High investor demand for Enel’s third Yankee bond issuance since 2017, confirms once again the financial markets’ appreciation for Enel’s solid fundamentals, financial results and capital structure
Rome, September 12th, 2018 - Enel Finance International N.V. (“EFI”), an Enel S.p.A. (“Enel”) finance subsidiary serving the Enel Group, has placed a multi-tranche bond for institutional investors on the US and international markets totalling 4 billion US dollars, the equivalent of approximately 3.5 billion euros. The issue, which is guaranteed by Enel, was oversubscribed by about 3 times, with total orders of approximately 11 billion US dollars.
The offering on the US market is part of the Group’s financing strategy to refinance its maturing consolidated debt. The high investor demand for Enel’s third Yankee bond issuance since 2017, confirms once again the financial markets’ appreciation for Enel’s solid fundamentals, financial results and capital structure.
The transaction is structured in the following tranches:
· 1,250 million US dollars at 4.250% fixed rate maturing in 2023;
· 1,500 million US dollars at 4.625% fixed rate maturing in 2025;
· 1,250 million US dollars at 4.875% fixed rate maturing in 2029.
In view of their characteristics, the above tranches have been assigned a provisional rating of BBB+ by Standard & Poor’s, Baa2 by Moody’s and BBB+ by Fitch.
Enel’s rating is BBB+ (stable) for Standard & Poor’s, Baa2 (stable) for Moody’s and BBB+ (stable) for Fitch.
For the dissemination to the public and the storage of regulated information made available to the public, Enel S.p.A. has decided to use respectively the platforms “eMarket SDIR” and “eMarket Storage”, both available at the address www.emarketstorage.com and managed by Teleborsa S.r.l. - with registered office in Rome, at 4 Piazza Priscilla - as per CONSOB authorization and resolutions n. 22517 and 22518 of November 23, 2022.
From May 19th 2014 to June 30th 2015, Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by Consob with resolution No. 18852 of April 9th, 2014.