Sonnedix buys 80-MW solar farm in Italy, more purchases to follow
Sep 19, 2024 14:32 CESTItalian utility Enel SpA (BIT:ENEL) announced on Monday it has placed a EUR-1-billion (USD 1.15bn) green bond reserved for institutional investors -- its third on the European market.
The transaction got subscriptions in an amount exceeding EUR 4.2 billion, with considerable interest from Social Responsible Investors (SRI), Enel said.
The company will use the net proceeds raised to develop, construct and repower renewable energy plants, build and operate transmission and distribution networks, and execute sustainable mobility, smart lighting, energy efficiency and demand response projects.
The green bond was placed by the company’s wholly-owned unit Enel Finance International NV (EFI) and will be listed on the Irish and Luxembourg Stock Exchanges. In addition, it will be admitted to trading on the multilateral trading facility ExtraMOT PRO organised and managed by Borsa Italiana.
The issuance is backed by a guarantee by Enel itself. The issue price has been set at 98.565% and the effective yield to maturity equals 1.736%. The issue is expected to be settled on January 21, 2019. It matures on July 21, 2025.
The transaction aligns with Enel’s 2019-2021 Strategic Plan aimed at refinancing EUR 13.6 billion.
(EUR 1 = USD 1.15)
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