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Francesco Starace: Green Bonds for Enel

Enel has launched a new green bond in Europe for institutional investors

In line with the 2018-2020 Strategic Plan, Enel has launched a new green bond in Europe for institutional investors. The group headed by Francesco Starace has issued 1.25 billion euro, and includes repayment in a single instalment at the maturity date of 16 September 2026.

The green bond will be listed on the Ireland and Luxembourg Stock Exchanges’ regulated markets, and admitted to trading on the multilateral trading facility “ExtraMOT PRO” organised and managed by the Italian Stock Exchange. The subscriptions received for the operation amount to over 3 billion euro, a part of which was acquired thanks to the significant share held by so-called socially responsible investors (SRIs).

The Enel Group’s financial strategy defined in the 2018-2020 Strategic Plan includes refinancing of 10 billion euro through to 2020, which will also be generated through the issuance of green bonds. The operation is also in line with Enel’s commitment undertaken for the “Paris 2017 Climate Finance Day” on 11 December 2017: to continue to develop the green bond market, a very dynamic segment in sustainable finance.

The importance of pursuing this objective led the Enel Group to publish a new “Green Bond Framework” in November, updated following the 2018-2020 Strategic Plan presentation. The document aims to facilitate transparency and the commitments undertaken for the reference market. A Green Bond Committee has also been established for the allocation process of the proceeds arising from the green bonds, and in order to monitor and implement the Green Bond Framework. All these are functional measures adopted in order to meet the UN’s 17 Sustainable Development Goals (SDG).

Enel editorial staff