Enel successfully places a triple-tranche 3.25 billion euro sustainability-linked bond in the eurobond market

9 juni 2021

Enel Finance International N.V. (“EFI”), the Dutch-registered finance company controlled by Enel S.p.A. (“Enel”)[1], launched today a multi-tranche Sustainability-Linked bond for institutional investors in the Eurobond market totaling 3.25 billion euros.

The bond is linked to the achievement of Enel’s sustainable objective related to the reduction of Direct Greenhouse Gas Emissions (Scope 1), contributing to the United Nations Sustainable Development Goal 13 (Climate Action) and in line with the Group’s Sustainability-Linked Financing Framework (the “Framework”).

The transaction follows the world’s first Sustainability-Linked bonds priced by EFI in US dollars and euros in 2019 and the first Sustainability-Linked bond issued on the sterling market in 2020. The instrument EFI launched today is also the largest Sustainability-Linked transaction ever priced in the fixed-income capital markets.

The bond, which is guaranteed by Enel, was oversubscribed 3.5 times, with total orders of approximately 11.3 billion euros and the significant participation of Socially Responsible Investors (SRI), allowing the Enel Group to continue to diversify its investor base.

At the same time, as indicated below, EFI launched a non-binding voluntary tender offer (the “Tender Offer”) for the repurchase of four outstanding series of conventional bonds for a target maximum aggregate amount of 1 billion euros, accelerating the achievement of the Group’s targets of sustainable finance sources on Group’s total gross debt.

Source: Enel
Multiple reports with cicle diagram and text

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