Enel: successfully places a multi-tranche bond issue worth $2.5 billion
Equivalent average cost in euros of approximately 3.6 per cent
(Il Sole 24 Ore Radiocor) - Enel Finance International, a financial subsidiary of Enel, has launched a multi-tranche senior unsecured bond aimed at institutional investors in the US and international markets, for a total amount of 2.5 billion US dollars, equivalent to approximately 2.2 billion euros. Enel announced this in a statement. The issue, guaranteed by Enel, was more than four times oversubscribed, with total orders exceeding US$10 billion. The press release explains that the demand and the terms secured ‘reflect the market’s recognition of leverage and financial flexibility that are unique within the sector, and a business portfolio with an optimised risk-return profile’. The proceeds from the issue will be used to finance the growth set out in the 2026–2028 Strategic Plan and, in parallel, to service the maturities of existing debt. The issue, which has an average maturity of approximately six years, carries an average cost equivalent in euros of around 3.6 per cent.
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