Enel

Capital/Financing Update • Sep 12, 2018

Informazione Regolamentata n. 0116-77-2018		Data/Ora Ricezione 12 Settembre 2018 07:35:17	MTA
Societa'	:	ENEL
Identificativo Informazione Regolamentata	:	108329
Nome utilizzatore	:	ENELN04 - Cozzolino
Tipologia	:	2.2
Data/Ora Ricezione	:	12 Settembre 2018 07:35:17
Data/Ora Inizio Diffusione presunta	:	12 Settembre 2018 07:35:18
Oggetto	:	Enel Finance International issues 4 billion US dollar bond on US market
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This announcement does not constitute or form part of any offer to sell or a solicitation of an offer to buy any securities in the U.S. or any other jurisdiction. This announcement does not constitute a prospectus or other offering document. No securities have been or will be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the U.S. or any other jurisdiction. No securities may be offered, sold or delivered in the United States or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any applicable state or other securities laws. No public offering is being made in the United States or in any other jurisdiction where such an offering is restricted or prohibited or where such offer would be unlawful. The distribution of this announcement may be restricted by applicable laws and regulations. Persons who are physically located in those jurisdictions and in which this announcement is circulated, published or distributed must inform themselves about and observe such restrictions.

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ENEL FINANCE INTERNATIONAL ISSUES 4 BILLION US DOLLAR BOND ON US MARKET

• Orders for approx. 11 billion US dollars exceeded offer amount by about 3 times
• High investor demand for Enel's third Yankee bond issuance since 2017, confirms once again the financial markets' appreciation for Enel's solid fundamentals, financial results and capital structure

Rome, September 12th, 2018 - Enel Finance International N.V. ("EFI"), an Enel S.p.A. ("Enel") finance subsidiary serving the Enel Group, has placed a multi-tranche bond for institutional investors on the US and international markets totalling 4 billion US dollars, the equivalent of approximately 3.5 billion euros. The issue, which is guaranteed by Enel, was oversubscribed by about 3 times, with total orders of approximately 11 billion US dollars.

The offering on the US market is part of the Group's financing strategy to refinance its maturing consolidated debt. The high investor demand for Enel's third Yankee bond issuance since 2017, confirms once again the financial markets' appreciation for Enel's solid fundamentals, financial results and capital structure.

The transaction is structured in the following tranches:

• 1,250 million US dollars at 4.250% fixed rate maturing in 2023;
• 1,500 million US dollars at 4.625% fixed rate maturing in 2025;
• 1,250 million US dollars at 4.875% fixed rate maturing in 2029.

In view of their characteristics, the above tranches have been assigned a provisional rating of BBB+ by Standard & Poor's, Baa2 by Moody's and BBB+ by Fitch.

Enel's rating is BBB+ (stable) for Standard & Poor's, Baa2 (stable) for Moody's and BBB+ (stable) for Fitch.