New Issue: Enel Finance prices €1.25 billion 1.125% notes due 2026 at 99.184

By Susanna Moon

Chicago, Jan. 16 – Enel Finance International NV issued €1.25 billion of 1.125% notes (Baa2/BBB+/BBB+) due Sept. 16, 2026 guaranteed by Enel SpA.

The notes priced at 99.184 to yield 1.225% for proceeds of €1,236,050,000, according to a term sheet.

Proceeds will be used to finance or refinance green projects.

The notes were issued under the €35 billion euro medium-term notes program.

The joint lead managers are Banca IMI SpA, BNP Paribas, Creedit Agricole CIB, HSBC Bank plc, ING Bank NV, J.P. Morgan Securities plc, Mediobanca - Banca di Credito Finanziario SpA, Natixis, SMBC Nikko Capital Markets Ltd., Societe Generale, UBI Banca SpA and UniCredit Bank AG.

Enel Finance is a financing arm of Rome-based electricity and gas manufacturer and distributor Enel SpA.

Issuer:	Enel Finance International NV
Guarantor:	Enel SpA
Issue:	Notes
Amount:	€1.25 billion
Proceeds:	€1,236,050,000
Maturity:	Sept. 16, 2026
Lead managers:	Banca IMI SpA, BNP Paribas, Credit Agricole CIB, HSBC Bank plc, ING Bank NV, J.P. Morgan Securities plc, Mediobanca - Banca di Credito Finanziario SpA, Natixis, SMBC Nikko Capital Markets Ltd., Societe Generale, UBI Banca SpA and UniCredit Bank AG
Coupon:	1.125%
Price:	99.184
Yield:	1.225%
Call option:	At make-whole premium of Bunds plus 15 bps or under issuer clean-up call
Trade date:	Jan. 12
Issue date:	Jan. 16
Ratings:	Moody’s: Baa2
	S&P: BBB+
	Fitch: BBB+
Distribution:	Regulation S

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