Enel Raises USD1.25 Billion in Private Placement of 2.75% Bonds Due 2023

Published: Oct 03 2017
Deal Summary

Enel SpA, a power generation, distribution and transmission company, through its financial arm Enel Finance International N.V., has completed the private placement of 2.75% fixed rate Yankee bonds, due 2023, for gross proceeds of USD1,250 million.

The placement was subscribed to by institutional investors on the US and international markets. The bonds are guaranteed by Enel, was oversubscribed by about three times.

Concurrently, the company agreed to issue 3.5% bonds due 2028, for gross proceeds of USD1.25 billion, and 4.75% notes due 2047, for gross proceeds of USD500 million.

The company intends to use the proceeds from the financing to refinance its maturing consolidated debt.

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