Enel Finance International has launched a multi-tranche bond issue on the US and international markets for institutional investors for a total of 3 billion dollars, equal to a total value in euros of approximately 2,5 billion. This was announced by the Enel group late yesterday evening.
The issue, guaranteed by Enel, was oversubscribed about 3 times, totaling orders for an amount of about 9 billion US dollars. The second offer of the Enel group in 2017 on the American market is part of the group's financing strategy and the refinancing of maturing consolidated debt.
The transaction is structured in the following tranches: USD 1.250 million at a fixed rate of 2,75% maturing in 2023; 1.250 million dollars at a fixed rate of 3,5% maturing in 2028; an additional amount of 500 million dollars from the May 2017 EFI issue at a fixed rate of 4.750% maturing in 2047.
The tranches indicated above, in consideration of the related characteristics, 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) by Standard & Poor's, Baa2 (stable) by Moody's, BBB+ (stable) by Fitch.
