Enel places 3 billions Us dollars bond on Us market
Rome - Enel Finance International and Enel S.p.A. finance subsidiary serving the Enel Group, has placed a multi-tranche bond for institutional investors on the US and international markets totalling 3 billion US dollars the equivalent of approximately 2.5 billion euro. The issue, which is guaranteed by Enel, was oversubscribed by about three times, with total orders of approximately 9 billion USD. This second offering on the US market of the Enel Group in 2017 is part of the Group's financing strategy, including the refinancing of its maturing consolidated debt. The transaction is structured in the following tranches: 1,250 million USD at 2.75% fixed rate maturing in 2023; 1,250 million USD at 3.5% fixed rate maturing in 2028; an additional 500 million USD of EFI's existing 4.750% fixed rate Notes issued in May 2017 maturing in 2047. In view of their characteristics, the above tranches have been assigned a provisional rating of BBB by Standard & Poor's, Baa2 by Moody's and BBB+ by Fitch. Enel's rating is BBB (positive) for Standard & Poor's, Baa2 (stable) for Moody's and BBB+ (stable) for Fitch.