Excitement builds for Enel hybrid — could it echo EDF monster?
Enel, the Italian power company, announced on Wednesday the bookrunners for its inaugural hybrid capital issue — a mandate that corporate bond bankers say is one of the most eagerly anticipated and talked-about of the year.
The company said in March it wanted to issue 5bn of 50% equity credit hybrid capital in the next three years, while cutting its net debt from 43bn to 37bn through asset disposals.
Enel has not said how much hybrid paper it plans to issue with the first
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