Enel Raises Additional USD500 Million in Private Placement of 4.75% Notes Due 2047

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 raised additional USD500 million through the issuance of 4.75% fixed rate Notes, due 2047. The placement was subscribed to by institutional investors on the US and international markets. The bonds are guaranteed by Enel.

Earlier on May 23, 2017, Enel completed the private placement of 4.75% notes, due 2047, for gross proceeds of USD1 billion, bringing the total proceeds from the offering to USD1.5 billion.

Concurrently, the company agreed to issue 2.75% bonds due 2023, for gross proceeds of USD1.25 billion, and 3.5% bonds due 2028, for gross proceeds of USD1.25 billion.

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

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