(Alliance News) - Enel Finance International NV - a financial subsidiary of Enel Spa - announced Wednesday that it has launched a multi-tranche "Sustainability-Linked Bond" aimed at institutional investors in the U.S. and international markets for a total amount of USD2 billion.
The issuance, guaranteed by Enel, has received oversubscribed applications about 3 times, totaling total orders of about USD5.6 billion. Proceeds from the issue are expected to be used to finance the group's ordinary needs, including refinancing maturing debt.
Stefano De Angeli, Enel Group CFO, commented, "The outcome of the placement both in terms of demand and the cost of issuance achieved demonstrates once again the confidence of investors in our financial and environmental sustainability strategy as well as in the 'Sustainability-Linked Bond,' an important tool to support the achievement of Enel's strategic objectives, which aim to reduce greenhouse gas emissions along the entire value chain, with the confirmed ambition of achieving zero emissions by 2040."
"We will continue with commitment on our path of long-term value creation and energy transition, through investments in networks, renewable energy and end customers."
Enel closed Tuesday's session in the green by 2.1 percent at EUR6.45 per share.
By Maurizio Carta, Alliance News reporter
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