Rome, October 23rd, 2020 - Enel S.p.A. (“Enel” or the “Company”) today launched a consent solicitation addressed to the holders of a number of subordinated, non-convertible hybrid bonds issued by the Company in order to align the terms and conditions of the above-mentioned bonds with those of the perpetual subordinated, non-convertible hybrid bond launched by Enel on September 1st, 2020.
To this end, the Company has called the Meetings of the noteholders of the following bonds, with a total outstanding amount of about 1,797 million euros (the “Bonds”), at first and single call on November 26th, 2020:
· 1,250,000,000 euros maturing January 10th, 2074 with 297,424,000 euros in circulation (ISIN: XS0954675129);
· 750,019,000 euros maturing November 24th, 2078 with 750,019,000 euros in circulation (ISIN: XS1713463716);
· 750,000,000 euros maturing November 24th, 2081 with 750,000,000 euros in circulation (ISIN: XS1713463559).
The proposed changes to the terms and conditions of the Bonds, submitted for approval by the aforementioned Meetings, are illustrated in the respective notices of call and in the documentation made available to the public in accordance with the modalities indicated below. More specifically, the proposed changes establish that:
· the Bonds, which currently have a specified long-term maturity date, would become due and payable and hence have to be repaid by the Company only in the event of winding up or liquidation of the Company;
· the events of default, envisaged in the terms and conditions and additional documentation that regulate the Bonds, would be eliminated.
The notices of call of the Meetings of the noteholders and the explanatory reports of the Board of Directors on the items of the agenda are available to the public at the registered office of the Company, on its website (www.enel.com) and at the authorized storage mechanism “eMarket STORAGE” (www.emarketstorage.com). The notices of call are also available to the public on the website of Euronext Dublin (www.ise.ie) and distributed to the noteholders through the systems of Euroclear Bank SA/NV and Clearstream Banking S.A.
Finally, additional information regarding the terms and conditions applicable to the consent solicitation, including the potential payment of an “Early Participation Fee”, may be found in the Consent Solicitation Memorandum, together with additional documentation concerning the transaction, which are available to the public on the website of the Company (www.enel.com).
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.