Enel group launches its first green bond totaling EUR 1,250 million

The net proceeds raised will be used, amongst others, for development, construction and repowering of solar power plants
The net proceeds raised will be used, amongst others, for development, construction and repowering of solar power plants

Enel Finance International N.V. (EFI), a wholly-owned subsidiary of Enel S.p.A. (Rome, Italy), on January 9th, 2017 has placed its first green bond for institutional investors on the European market.

The issue, backed by a guarantee issued by Enel, totals EUR 1,250 million and provides for repayment in one instalment at maturity on September 16th, 2024. It is expected that the green bond will be listed on the regulated markets of the Irish and Luxembourg Stock Exchanges.

The transaction received subscriptions in an amount of approximately EUR 3 billion, with considerable interest from Social Responsible Investors (SRI), enabling Enel to further diversify its investor base.

The net proceeds raised from the issuance will be used to finance the Enel Group’s eligible green projects identified and/or to be identified in accordance with the Green Bond Principles 2016 published by the International Capital Market Association (ICMA).

More specifically, the categories of projects that qualify as eligible green projects include, for example:

  • The development, construction and repowering of renewable power plants;

  • The development of transmission and distribution networks, and the implementation of smart grids and smart meters in the geographic areas in which the Group operates.

The operation was led by a syndicate of banks comprising Banca IMI, BofA Merrill Lynch, Credit Agricole CIB, Citi, Deutsche Bank, HSBC, J.P. Morgan, Mizuho Securities, Natixis, SMBC Nikko and UniCredit Bank as joint-bookrunners.

 

2017-01-11 | Courtesy: Enel | solarserver.com © Heindl Server GmbH

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