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December 05, 2019 • 06:11 PM

Enel exercises optional redemption on subordinated hybrid bond with a nominal value of 1,000 million euros issued in 2014

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The transaction is part of the Enel Group’s strategy to optimise the structure of its liabilities through an active management of maturities aimed at reducing the cost of debt

Rome, December 5^th, 2019 – Enel S.p.A. (“Enel” or the “Company”)today exercised the optional redemption of the non-convertible, subordinated hybrid bond denominated in euros (ISIN XS1014997073), issued and listed on January 15^th, 2014 on the Irish Stock Exchange “Euronext Dublin”, with a nominal value of 1,000 million euros, paying a 5% coupon and maturing on January 15^th, 2075 with a First Call Date on January 15^th, 2020. The optional redemption was exercised through a notice delivered to the noteholders and subsequently published on the website of Euronext Dublin, in accordance with the terms and conditions provided for in the Offering Circular dated January 10^th, 2014.

The transaction is part of the Enel Group’s strategy to optimise the structure of its liabilities through an active management of maturities aimed at reducing the cost of debt.

On January 15^th, 2020 (the First Call Date), Enel will pay the noteholders back the outstanding hybrid bond’s nominal value equal to about 410 million euros, together with any interest accrued up to, the day before the First Call Date. That amount represents the outstanding amount resulting from liability management transactions carried out by the Company throughout the 2018-2019 period.

Call exercise

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