Enel, full speed ahead on bond issues linked to sustainability. The electricity group, through its subsidiary Enel Finance International (EFI), launched on Wednesday on the US and international markets a new Sustainability linked bonds, multi-tranche, aimed at institutional investors for a total of 4 billion dollars, the equivalent of about 3,4 billion euros. Requests have reached total orders for almost 12 billion, equal to three times the offer, a true record. The participation of Socially Responsible Investors (SRI), which allows the Group "to continue to diversify its investor base", is particularly significant.
With the new emission, linked to the reduction of direct greenhouse gas emissions (scope 1) linked to the UN sustainable development goal against climate change, Enel has achieved a number of goals. In fact, the new bond closely follows the previous one sustainable bond of 3,25 billion euro issued by Efi last June. But above all, the press release notes, "it represents the largest operation"Sustainability-Linked” so far performed in the capital markets fixed-income as well as the largest operation fixed-income of sustainable finance of the year to date by an issuer corporate".
The proceeds of the issue will be used to finance the repayment of four conventional bonds by Enel Finance International for a total of 6 billion US dollars. This will make it possible to accelerate the achievement of the group objectives linked to sustainable financing in relation to the total one, set at 48% in 2023 and over 70% in 2030.
Alberto De Paoli, CFO of Enel, is particularly pleased: “We continue to accelerate the achievement of our sustainable finance goals, with an unprecedented new operation, with which we surpass ourselves reaching new heights in the capital markets. We firmly believe that “Sustainability-Linked” finance will drive the strengthening of sustainable capital markets in the coming years, placing the objectives related to the SDGs and financial value at the center of its structure, thus progressively replacing conventional debt”.
