Enel

Capital/Financing Update • Jan 9, 2018

Informazione Regolamentata n. 0116-2-2018		Data/Ora Ricezione 09 Gennaio 2018 19:14:51	MTA
Societa'	:	ENEL
Identificativo Informazione Regolamentata	:	97843
Nome utilizzatore	:	ENELN05 - Giannetti
Tipologia	:	2.2
Data/Ora Ricezione	:	09 Gennaio 2018 19:14:51
Data/Ora Inizio Diffusione presunta	:	09 Gennaio 2018 19:14:52
Oggetto	:	Enel launches a new green bond in Europe worth 1,250 million euros
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ENEL LAUNCHES A NEW GREEN BOND IN EUROPE WORTH 1,250 MILLION EUROS

The transaction is in line with the Group's financial strategy set out in the 2018-2020 Strategic Plan, which provides for the refinancing of 10 billion euros through 2020, including the issue of green bonds

Rome, January 9th, 2018 - Enel Finance International N.V. ("EFI"), a wholly owned subsidiary of Enel S.p.A. ("Enel", rated BBB+ for S&P's, Baa2 for Moody's, and BBB+ for Fitch), has successfully placed its second green bond on the European market, reserved for institutional investors and backed by a guarantee issued by Enel.

The issue amounts to a total of 1,250 million euros and provides for repayment in a single instalment at maturity on September 16th, 2026 and the payment of a fixed-rate coupon equal to 1.125%, payable annually in arrears in the month of September as from 2018. The issue price has been set at 99.184% and the effective yield at maturity is equal to 1.225%. The settlement date for the issue is January 16th , 2018.

The green bond is expected to be listed on the regulated market of the Irish Stock Exchange, on the regulated market of the Luxembourg Stock Exchange and be admitted to trading on the multilateral trading facility "ExtraMOT PRO" organised and managed by Borsa Italiana. It is also expected that the green bond will be assigned a rating in line with that of Enel.

The transaction has received subscriptions amounting to more than 3 billion euros, with the significant participation of Socially Responsible Investors ("SRI"), enabling the Enel Group to continue to diversify its investor base.

The net proceeds of the issue - carried out under the "€35,000,000,000 Euro Medium Term Note Program" - will be used to finance and/or refinance, in whole or in part, the eligible green projects of the Enel Group identified and/or to be identified in accordance with the "Green Bond Principles" published by the International Capital Market Association (ICMA).

More specifically, eligible green projects include, by way of example, projects for:

• the development, construction and repowering of renewables generation plants;
• the construction, management and operation of transmission and distribution networks, as well as smart metering systems.

The transaction is consistent with:

• the financial strategy of the Enel Group set out in the 2018-2020 Strategic Plan, which among other things envisages the refinancing of 10 billion euros through 2020, including the issue of green bonds as instruments dedicated to the financing of projects to spur the transition to the low carbon economy;
• the commitment made by Enel on December 11th, 2017 on the occasion of the Paris 2017 Climate Finance Day together with 8 other industrial companies issuing green bonds to continue to develop the green bond market, today one of the most dynamic segments of sustainable finance.

In this regard, it should be noted that the Enel Group has prepared and published a new Green Bond Framework, which was updated following the presentation of the 2018-2020 Strategic Plan last November, in order to facilitate transparency and the commitments made by the Group with regard to green bonds. In addition, in June 2017 the Enel Group set up a Green Bond Committee to oversee the implementation of the Green Bond Framework and the process of allocating the proceeds of green bond issues.

The new Green Bond Framework and the second party opinion prepared by the independent advisor Vigeo Eiris for this issue are available to the public on the Enel website (http://www.enel.com/investors/fixed-income/main-programs/green-bond). Information on the allocation of proceeds from the first green bond issued in January 2017 is also available on the same website.

The Enel Group has for some time launched specific initiatives targeted at Environmental, Social and Governance (ESG) issues along the entire value chain, also promoting the achievement of the 17 Sustainable Development Goals (SDGs) of the United Nations. In particular, the Group confirmed and strengthened its specific commitment, made in September 2015, for the following SDGs:

• 800,000 beneficiaries of quality education by 2020, doubling the previous target of 400,000 beneficiaries (SDG 4);
• 3 million beneficiaries of access to clean and low-cost energy by 2020, mainly in Africa, Asia and South America (SDG 7);
• 3 million beneficiaries in terms of employment and sustainable and inclusive economic growth by 2020, doubling the previous target of 1.5 million (SDG 8);
• climate change: reduction of emissions to less than 350gCO2/KWheq by 2020 (SDG 13).

The transaction was led by a syndicate of banks comprising Banca IMI, BNP Paribas, Credit Agricole CIB, HSBC, ING Bank, J.P. Morgan, Mediobanca, Natixis, SMBC Nikko, Societe Generale, UBI Banca and UniCredit Bank as joint-bookrunners.