Endesa accepts 87.91% of €1.5 billion preferred shares for redemption

By Jennifer Chiou

New York, June 28 - Endesa Capital Finance, LLC announced the close of the acceptance period under its offer to purchase and redeem its €1.5 billion of perpetual preference shares issued in March 2003.

The preferreds are guaranteed by Endesa SA.

The company accepted €1,318,628,775, or 87.91%, of the preferred shares for redemption at par plus accrued distributions.

The acceptance period ended on June 24, and the offer took place only in Spain.

Upon settlement on Tuesday, €181,371,225 of the preferreds remains outstanding.

Madrid-based Endesa provides power to more than 24 million customers in 11 countries.

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