Published on 1/16/2018 in the Prospect News Green Finance Daily.
New Issue: Enel Finance prices €1.25 billion 1.125% notes due 2026 at 99.184
By Susanna Moon
Chicago, Jan. 16 – Enel Finance International NV issued €1.25 billion of 1.125% notes (Baa2/BBB+/BBB+) due Sept. 16, 2026 guaranteed by Enel SpA.
The notes priced at 99.184 to yield 1.225% for proceeds of €1,236,050,000, according to a term sheet.
Proceeds will be used to finance or refinance green projects.
The notes were issued under the €35 billion euro medium-term notes program.
The joint lead managers are Banca IMI SpA, BNP Paribas, Creedit Agricole CIB, HSBC Bank plc, ING Bank NV, J.P. Morgan Securities plc, Mediobanca - Banca di Credito Finanziario SpA, Natixis, SMBC Nikko Capital Markets Ltd., Societe Generale, UBI Banca SpA and UniCredit Bank AG.
Enel Finance is a financing arm of Rome-based electricity and gas manufacturer and distributor Enel SpA.
Issuer: | Enel Finance International NV
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Guarantor: | Enel SpA
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Issue: | Notes
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Amount: | €1.25 billion
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Proceeds: | €1,236,050,000
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Maturity: | Sept. 16, 2026
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Lead managers: | Banca IMI SpA, BNP Paribas, Credit Agricole CIB, HSBC Bank plc, ING Bank NV, J.P. Morgan Securities plc, Mediobanca - Banca di Credito Finanziario SpA, Natixis, SMBC Nikko Capital Markets Ltd., Societe Generale, UBI Banca SpA and UniCredit Bank AG
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Coupon: | 1.125%
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Price: | 99.184
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Yield: | 1.225%
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Call option: | At make-whole premium of Bunds plus 15 bps or under issuer clean-up call
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Trade date: | Jan. 12
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Issue date: | Jan. 16
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Ratings: | Moody’s: Baa2
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| S&P: BBB+
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| Fitch: BBB+
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Distribution: | Regulation S
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