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Enel Finance International issues $3B multitranche bond


According to Market Intelligence, December 2022


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Enel Finance International issues $3B multitranche bond

Enel SpA's finance subsidiary, Enel Finance International NV, placed a $3 billion multitranche bond for institutional investors on the U.S. and international markets.

The issue, guaranteed by Enel SpA, was oversubscribed with total orders of about $9 billion. The company said the offering is part of its financing strategy, including the refinancing of its maturing consolidated debt.

The first tranche totals $1.25 billion due in 2023, carry a coupon of 2.75%, with the second tranche worth the same amount, carrying a 3.5% coupon and maturing in 2028. An additional $500 million of Enel Finance's existing 4.750% notes due in 2047 was also part of the transaction.