Enel’s retail bond a huge hit at €3bn

22 Feb 2012

Enel, the Italian electricity company, has enjoyed a strong reception for its domestic retail bond issue and closed the deal early at the maximum intended size of €3bn.

The arranging banks, Banca Imi, BNP Paribas and UniCredit, launched the sale on February 6, planning to keep it open for three weeks, but closed it after just six business days when demand reached €5.3bn.

The six year deal comprises €2.5bn of fixed rate notes paying 4.875% or 310bp ...

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