Key Developments: Enel SpA (ENEI.MI)
2.94EUR
17 May 2013
€0.01 (+0.34%)
€2.93
€2.91
€2.96
€2.91
51,710,441
42,259,338
€3.30
€2.02
Latest Key Developments (Source: Significant Developments)
Fitch Ratings Maintains Enel SpA on Rating Watch Negative-DJ
Dow Jones reported that Fitch Ratings has maintained Enel SpA on Rating Watch Negative. Further details were not disclosed. Full Article
Standard & Poor's Ratings Services Revises It Outlook On Enel Spa-DJ
Dow Jones reported that Standard & Poor's Ratings Services (S&P) has revised it outlook on Enel Spa, to negative from stable. S&P also affirmed its BBB+/A-2 long- and short-term corporate credit ratings on the Company. The outlook revision follows the lowering of the long- and short-term sovereign ratings on the Kingdom of Spain to BBB-/A-3 from BBB+/A-2 on October 10, 2012. Full Article
Enel SpA's Subsidiary Endesa SA Closes Sale of Entire Share Capital of Endesa Ireland Ltd to Scottish and Southern Energy Plc
Enel SpA announced that its Spanish subsidiary Endesa SA (Endesa) has closed the sale of the entire share capital of Irish company Endesa Ireland Ltd (Endesa Ireland), currently owned by Endesa (0.02%) and Endesa Generacion SA (99.98%) to Scottish and Southern Energy Plc (SSE), following the agreement signed on June 14, 2012. For the 100% stake in Endesa Ireland the two parties agreed on a total consideration of EUR 286 million, including the value of CO2 emission rights and the company’s fuel reserves. The Enterprise Value for the entire share capital of Endesa Ireland amounts to approximately EUR 361 million, including Endesa Ireland’s net financial position at closing. Endesa Ireland is the owner of power generation plants in Ireland with a total installed capacity of 1,068 MW (about 12% of the Republic of Ireland’s installed capacity). Full Article
Enel SpA Places EUR 2 Billion Multi-Tranche Bond Issue Through Subsidiary Enel Finance International N.V.
Enel SpA announced that acting through its subsidiary Enel Finance International N.V., it placed a total of EUR 2 billion in a multi-tranche bond issue for institutional investors on the European market. The issue was executed as authorized by Enel's Board of Directors on September 11, 2012 under the Global Medium Term Notes programme. The transaction, carried out by a syndicate of banks composed of Bank of America Merrill Lynch, Barclays, Deutsche Bank, J.P. Morgan, Royal Bank of Scotland and Societe Generale Corporate & Investment Banking as the global coordinators and Banco Bilbao Vizcaya Argentaria, Credit Suisse, Goldman Sachs International, ING, Santander Global Banking and Markets and UBS Investment Bank as the joint-book runners, generated demand in excess of EUR 12 billion and is structured into the following tranches (all guaranteed by Enel): EUR 1 billion at a rate of 3.625% maturing on April 17, 2018; EUR 1 billion at a rate of 4.875% maturing on April 17, 2023. The tranches will be listed on regulated markets in the coming days. Full Article
Enel SpA Approves New Bonds Issue Up to EUR 5 Billion
Enel SpA announced that the Company's Board of Directors approved the issue of one or more bonds by December 31, 2013, for a total of up to EUR 5 billion. The issues form part of the strategy to extend the average maturity of the Group’s consolidated debt and to optimize the profile of its medium and long-term maturities. The bonds could be placed with institutional or retail investors, depending upon the opportunities presented by the market. The bonds may be issued directly by Enel or by its Dutch subsidiary Enel Finance International NV (guaranteed by the Parent Company), depending upon the opportunities this second option may present for placement of the bonds on foreign markets. At the same time, the Board of Directors also revoked its resolution of November 9, 2011, authorizing the issue of one or more bonds by December 31, 2012, for a total of up to EUR 5 billion, to be placed with institutional or retail investors. The revocation did not affect the validity and the effects of the issues carried out and the guarantees granted in execution of that resolution. Full Article
Enel SpA Places on European Market EUR 1 Billion Bond Issue
Enel SpA announced that through its subsidiary, Enel Finance International NV, it has placed on the European market a EUR 1 billion fixed rate 4.875% bond due March 11, 2020 (guaranteed by Enel) targeted at institutional investors. The bond was issued within the framework of the Global Medium Term Notes programme and in accordance with the resolution adopted by Enel's Board of Directors on November 9, 2011. The transaction, led by a syndicate of banks with BNP Paribas, Citigroup, Credit Agricole CIB, HSBC, J.P. Morgan, Morgan Stanley acting as global coordinators and Banca IMI, Mitsubishi UFJ Securities, Mediobanca, Mizuho International plc, NATIXIS, UniCredit Bank acting as joint-bookrunners, raised subscriptions worth EUR 5.7 billion. The above indicated bond issue is expected to be listed in the coming days on regulated markets. Full Article
Fitch Downgrades Enel SpA's Long-Term Rating and Confirms Short-Term Rating
Enel SpA announced that the rating agency Fitch has reviewed the Company's long-term rating to BBB+ from the previous A-. Fitch also announced that it has confirmed the Company's short-term rating of F2. The negative rating watch has been maintained on both ratings. Full Article
Enel SpA's Subsidiary Enel Distribuzione SpA to Receive EUR 380 Million Loan from European Investment Bank
Enel SpA announced that its wholly-owned subsidiary, Enel Distribuzione SpA, has signed an agreement with the European Investment Bank (EIB) for a EUR 380 million loan aimed at covering a portion of Enel Distribuzione's investments relating to efficiency improvements in the Italian electricity grid provided for in Enel Distribuzione’s 2012-2014 business plan. The investments financed by the loan are intended to upgrade the national distribution grid, with more than 37% of the spending allocated for works in Southern Italy. The 20-year financing agreement (maturing in 2032) has a five-year grace period (until 2018). The funds will be disbursed by the end of 2012 and secured by a Parent Company guarantee provided by Enel. Full Article
Moody's Investors Service Assigns Its Senior Unsecured Ratings On Enel SpA and Endesa SA
Moody's Investors Service announced that it has assigned its senior unsecured rating on Enel SpA and its subsidiary Endesa SA at Baa1. Full Article
Enel SpA To Sell Endesa SA Ireland For EUR270 Million To SSE PLC-Reuters
Reuters reported that Enel SpA will sell Endesa SA's Irish unit to SSE PLC for EUR270 million ($340.11 million), a further step to cut its mountain of debt. Enel is targeting disposals worth around EUR1.8 billion between 2012 and 2016 as it seeks to slash debt to 30 billion from last year's 44.6 billion. Enel, which owns 92% of Endesa, is selling assets to help offset weak power demand in its core Italian and Spanish markets as the euro zone sovereign debt crisis bites into margins. In February it sold a 5% stake in Italian power grid operator Terna for EUR178 million. The utility has also identified potential asset sales in Brazil and Indonesia. Full Article
UPDATE 2-Italy's Enel agrees early retirement for 3,500 - source
* Oil group Eni considers accord for 1,000 employees (Adds Eni considering early retirement accord)
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