Enel

Capital/Financing Update • Feb 19, 2025

Informazione Regolamentata n. 0116-7-2025	Data/Ora Inizio Diffusione 19 Febbraio 2025 18:25:24		Euronext Milan
Societa'	:	ENEL
Identificativo Informazione Regolamentata	:	201546
Utenza - Referente	:	ENELN09 - Giannetti Davide
Tipologia	:	2.2
Data/Ora Ricezione	:	19 Febbraio 2025 18:25:24
Data/Ora Inizio Diffusione	:	19 Febbraio 2025 18:25:24
Oggetto	:	Enel signs a 12 billion euro committed revolving credit facility
Testo del comunicato

Vedi allegato

International Press Office Investor Relations

T +39 06 8305 5699 T +39 06 8305 7975 gnm@enel.com enel.com enel.com

ufficiostampa@enel.com investor.relations@enel.com

ENEL SIGNS A 12 BILLION EURO COMMITTED REVOLVING CREDIT FACILITY

Rome, February 19th, 2025 - Enel S.p.A. ("Enel") and its subsidiary Enel Finance International N.V. ("EFI") signed today a committed, revolving, sustainability-linked credit facility for an amount of 12 billion euros and a maturity of five years (the "Facility").

Stefano De Angelis, CFO of the Enel Group, commented: "This new credit line allows us to further diversify our sources of sustainable financing while ensuring a positive impact on Group results thanks to improved economic conditions. The success of this transaction, which represents the largest eurodenominated, sustainability-linked, revolving credit line currently on the market, demonstrates the financial community's appreciation for the results of the Group's new strategy based on solid and sustainable growth."

The Facility foresees the use of a sustainability Key Performance Indicator ("KPI") foreseen within the "Sustainability-Linked Financing Framework" (the "Framework")¹ linked to the "Percentage of CAPEX aligned with the EU taxonomy" in addition to the achievement of a Sustainability Performance Target ("SPT") equal to or greater than 80% as of December 31st, 2026 for the 2024-2026 period. The use of this KPI represents further confirmation of Enel's commitment to the energy transition, in line with the environmental and financial sustainability pillar of the Group's strategy.

Depending on the achievement of the abovementioned SPT, the Facility provides a step up/step down mechanism which will impact the margin applicable to subsequent uses of the Facility, as well as on the commissions for any unused portions of the line itself.

The Framework is aligned with the "Sustainability-Linked Loan Principles" of the Loan Market Association (LMA) and with the "Sustainability-Linked Bond Principles" of the International Capital Market Association (ICMA), as certified by Second-Party Opinion Provider Moody's Ratings.

This Facility replaces the previous credit line that had been signed by Enel and EFI in March 2021, and subsequently amended, with an overall value of 13.5 billion euros. The cost of the new Facility varies on the basis of the pro tempore rating assigned to Enel, and based on the current rating, presents a spread of 40 bps above Euribor, with a floor at zero; the commitment fee is equal to 35% of the spread.

The new Facility, which has a lower cost than the previous one, can be used by Enel itself and/or EFI, in case of the latter with a parent company guarantee by Enel and is intended to give the Group an extremely flexible instrument for the management of any cash requirements.

The Facility is provided by 26 leading global financial institutions, including Mediobanca acting as Documentation and Facility Agent.

¹ Updated in December 2024.

Numero di Pagine: 3