In September, ENEL (rated BBB+ by S&P, Baa1 by Moody’s and A- by Fitch) approached the primary market with a new € 3.5bn senior unsecured multi-tranche Sustainability-Linked Bond issuance.
The transaction, split among three different maturities (long 4, long 7 and 13 years), was successfully priced at ms+35bps, 48bps and 70bps (i.e. 30bps, 32bps and 30bps inside the IPTs, respectively) and represents the largest SLB ever issued.
The transaction, awarded thanks to intense commercial and lending effort jointly deployed by Coverage and the Debt Division, further highlights Mediobanca’s outstanding track record in the ESG space and its strong relationship with one of the most active and innovative name in the ESG segment of the debt capital market (Mediobanca advised ENEL in all its 2021 Euro debt issuances).
The deal represents the 38th transaction (13th in ESG format) led by the DCM Team since January 2021.