Enel refinances €1.25bn of hybrids inside CFO’s target as demand remains high

By Nigel Owen
17 May 2018

Italian energy company Enel sold €1.25bn of new hybrid bonds this week to help fund the repurchase of its hybrids with 2019 and 2020 call dates.

The buyback was announced after the firm’s chief financial officer announced that the company would refinance up to €3.5bn of hybrids at a cost of about 3.5%. At its first quarter results presentation on May 9, Enel CFO Alberto di Paoli said the board of directors had authorised ...

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