ENEL: BOND ISSUE PLACED FOR AN AGGREGATE AMOUNT OF 6.5 BILLION EUROS. DEMAND EXCEEDS 28 BILLION EUROS

Published on Thursday, 10 September 2009

Rome, September 10th 2009 – Following the resolution adopted by the Board of Directors on July 30th 2009, Enel S.p.A. (rating A-/A-2 by S&P’s, A2/P-1 by Moody’s, A-/F-2 by Fitch), through its subsidiary Enel Finance International S.A., today launched on the international market a multi-tranche bond targeted at institutional investors. The bond is denominated in euros and pound sterling for an aggregate amount of over 6.5 billion euros. The bond is issued under the recently renewed Global Medium Term Notes programme.

The transaction, run by a syndicate of banks consisting of BNP Paribas and Deutsche Bank (as global coordinators and joint bookrunners) and of Barclays Capital, BBVA, Calyon, Royal Bank of Scotland, Banco Santander and Société Générale (as joint bookrunners), raised this morning in less than an hour over 28 billion euros in orders received. The  transaction consists of the following four tranches (all guaranteed by Enel S.p.A.):

­ EUR 1,500 million fixed-rate 4.00% bond due 2016;
­ EUR 2,500 million fixed-rate 5.00% bond due 2022;
­ GBP 850 million fixed-rate 5.625% bond due 2024;
­ GBP 1,400 million fixed-rate 5.75% bond due 2040.

In particular, the two pound-denominated tranches represent the largest corporate bond issue ever recorded in such currency.

All the above tranches are expected to be listed on the Dublin Stock Exchange in the coming days.

Fulvio Conti, Chief Executive Officer and General Manager of Enel, commented: “An outstanding success that shows that institutional investors appreciate the positive results of our international growth and financial strategy. The bonds issued will extend the average life of Enel’s consolidated debt and will diversify funding sources. We are considering to issue bonds reserved to the institutional U.S. investors as well as to the Italian retail market over the next few months”.

Price Sensitive | September, 10 2009

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