By Marisa Wong
Morgantown, W.Va., Jan. 10 Enel Finance International NV placed its first green bond, totaling 1.25 billion, according to a company announcement. The bond is guaranteed by parent company Enel SpA.
The 1% bond matures on Sept. 16, 2024.
The issue price has been set at 99.001 for an effective yield of 1.137%.
The deal has received subscriptions totaling 3 billion, with considerable interest from socially responsible investors, the company noted.
Proceeds from the issuance will be used to finance Enels green projects, including the development, construction and repowering of renewable power plants, the development of transmission and distribution networks and the implementation of smart grids and smart meters.
The company said the issuance, carried out under its medium-term note program, is in line with its 2017-2019 strategic plan. This plan involves a 12.4 billion refinancing, including through the issuance of green bonds.
The bond is expected to be issued on Monday.
The company expects to list the bond on the Irish and Luxembourg stock exchanges.
Enel SpA is a multinational energy company based in Rome.
| Issuer: | Enel Finance International NV
|
| Guarantor: | Enel SpA
|
| Issue: | Green bond
|
| Amount: | 1.25 billion
|
| Maturity: | Sept. 16, 2024
|
| Coupon: | 1%
|
| Price: | 99.001
|
| Yield: | 1.137%
|
| Announcement date: | Jan. 9
|
| Settlement date: | Jan. 16
|
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