Enel successfully launches a 750 million pound sterling “ Sustainability- Linked Bond” in a single tranche

Enel successfully launches a 750 million pound sterling “ Sustainability- Linked Bond” in a single tranche

Enel Finance InternationalN.V. (“ EFI”), the Dutch-listed finance company controlled by EnelS.p.A. (“ Enel”) (1), launched in the request a pound sterling single-tranche “ Sustainability- Linked Bond” for institutional investors totaling 750 million pounds sterling, original to roughly 900 million euros.

Alberto De Paoli, CFO of Enel, reflected “ With this new step, we’re moving towards achieving our sustainable finance pretensions. In line with Enel’s Strategy, we anticipate that the achievement of these objects will lead to a lower cost of Group debt and the achievement of the artificial Net Zero target by 2040 for direct and circular emigrations, while also contributing to the energy independence of the countries where we operate.”

The new allocation is linked to the achievement of Enel’s sustainability ideal relating to the reduction of direct hothouse gas emigrations ( Compass 1), contributing to United Nations Sustainable Development Thing 13 (Climate Action) and in agreement with the Group’s Sustainability- Linked Financing Framework (“ Framework”).

The issue, guaranteed by Enel, was oversubscribed by nearly 3 times, with total orders of roughly2.1 billion pounds sterling and the significant participation of Socially Responsible Investors (SRI), allowing the Enel Group to continue to diversify its investor base.

The success of the new issue is a clear acknowledgement of the Group’s sustainability strategy and of its capability to induce value, which were reflected formerly again in the demand and pricing mechanics of the issue.

The proceeds of the issue are anticipated to be used by EFI to fund the Group’s ordinary backing requirements.

The sale is in line with the Framework, last streamlined in January 2022, which completely integrates sustainability into the Group’s global backing plan through Sustainability- Linked Bonds, Sustainability- Linked Loans, SDG Commercial Paper Programmes, Sustainability- Linked Foreign Exchange Derivations, Sustainability- Linked Rates Derivations and Sustainability- Linked Guarantees.

The Framework is aligned with the International Capital Market Association’s (ICMA) “ Sustainability- Linked Bond Principles” and the Loan Market Association’s (LMA) “ Sustainability- Linked Loan Principles”, as vindicated by the Alternate- Party ProviderV.E.

With the Strategic Plan presented to the fiscal community in November 2021, Enel has brought forward its “ Net Zero” commitment by 10 times, from 2050 to 2040, for both direct and circular emigrations. Specifically, Enel committed to reach zero emigrations without resorting to negativing measures-similar as CO2 junking technologies or nature- grounded results – with respects to energy generation and electricity deals to end guests, as well as to exit from the retail gas business. In addition to bringing forward, from 2050 to 2040, the ideal of completely decarbonizing its energy blend, Enel has at the same time verified its 2030 thing to reduce direct CO2eq emigrations per kWh ( Compass 1) by 80 compared to 2017.

Still, a step-up medium will be applied, adding the rate by 25 bps as of the first interest period posterior to the publication of the report issued by an expert external verifier in respect of the intensity of direct hothouse gas emigrations and the methodology for measuring CO2eq emigrations applied by the Group, If the SPT isn’t achieved.

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