Enel places its first “general purpose SDG linked bond” on the European market with a multi-tranche issue of 2.5 billion euros

Enel Finance International N.V. (“EFI”), the Dutch-registered finance  subsidiary of Enel SpA (“Enel”[1]), launched a multi-tranche “sustainable” bond for institutional investors on the European market totalling 2.5 billion euros. The bond is linked to the achievement of the United Nations Sustainable Development Goals (SDGs) and is the Group’s first “General Purpose SDG Linked Bond” issued on the European market.

“After our successful SDG-linked bond placement in the US, we have launched our first-ever sustainable bond on the European market, and the excellent outcome of this issuance is further evidence of the growing appetite of investors for innovative, sustainable financing tools,” said Enel CFO Alberto De Paoli. “There is a clear link between sustainability and value creation, as by investing in environmentally and socially sustainable projects companies can secure high profitability and minimise risks, while contributing to the achievement of SDGs. We are confident that companies will increasingly embrace this model, orienting their businesses towards an overall strategy that places sustainability at the core of their investment and financing decisions.”

The bond, which is guaranteed by Enel and launched as part of Enel and EFI’s medium-term bond issue programme (Euro Medium Term Notes Programme – EMTN), was almost four times oversubscribed, with total orders of about 10 billion euros and the significant participation by Socially Responsible Investors (SRIs), enabling the Enel Group to continue to diversify its investor base. The issue is expected to be listed on the Irish Stock Exchange.