As part of its debt refinancing strategy, Enel's board of directors approved the issue by December 31, 2018 of one or more bond loans, to be placed with institutional investors, for a total maximum amount equal to the equivalent 7 billion euros.
The issues - reads a note - may be carried out by the Dutch subsidiary Enel Finance International NV (with a guarantee from the parent company) or directly by Enel, in relation to actual market opportunities.
The board has delegated to the chief executive officer the task of defining the amounts, currencies, timing and characteristics of the individual issues, taking into account the evolution of market conditions, with the power to request the listing of these issues on one or more regulated markets of the European Union or in multilateral trading systems.
In a logic of diversification, the note concludes, the issues may be addressed to institutional, EU and non-EU investors, also through private placements.
