spot_img
Thursday, February 2, 2023
spot_img

W&C advises Enel on US$4bn Yankee bonds issuance

White & Case has advised Enel Group on US$4 billion Yankee bonds issued pursuant to Rule 144A and Regulation S under the US Securities Act

-

The issuance consists of US$1 billion 7.100% notes due 2027, issued by Enel Finance America LLC, and US$750 million 6.800% notes due 2025, US$1.250 billion 7.500% notes due 2032 and US$1 billion 7.750% notes due 2052 issued by Enel Finance International NV.

The issuance is linked to Enel Group’s decarbonisation path, with the 30-year tranche linked to its target of zero direct greenhouse gas emissions from the production of electricity and heat by 2040.

Aimed at institutional investors in the US and international markets, the bonds, which will be separately issued in four different tranches, will be guaranteed by Enel. The proceeds of the issuances are expected to be used to fund the Group’s ordinary financing needs, including refinancing of outstanding indebtedness.

White & Case advised on the transaction’s US, English and Italian Law aspects.

The White & Case team that advised on the transaction was led by partners Michael Immordino (London & Milan), Ferigo Foscari (Milan) and Evgeny Scirtò Ostrovsky (London & Milan), and included partners Richard Pogrel (London), David Johansen, Elodie Gal (both New York) and Chad McCormick (Houston), associates Pietro Magnaghi, John Sanders, Lorenza Fici (all Milan), Grayson Weeks (New York), Gracia Truan and Esther Gabilondo (both Madrid) and lawyers Lorenzo Suzzi and Francesco Balestra (both Milan).

The joint Bookrunners were advised by Latham & Watkins.

- Advertisement -spot_img
- Advertisement -spot_img

MOST READ NEWS

Montero Aramburu Madrid Tax head partner Isidro del Saz passes away

Isidro was the partner in charge of the Tax practice of the Madrid office of Montero Aramburu Abogados since June 2018, when he joined...

SPB advises Miss Group on Sered acquisition

International fast-growth web hosting business MIss Group has completed its first acquisition of 2023 – web hosting specialist Sered, to further expand its footprint across...

Garrigues helps Urbania with the €30m RE sale in Malaga to AQ Acentor

AQ Acentor, Aquila Capital’s property developer in Spain, invests €30 million to build residential assets in Malaga’s Zeta District. AQ Acentor has acquired three plots...
spot_img
spot_img
spot_img
spot_img
- Advertisement -spot_img
- Advertisement -spot_img
error: