Enel Tightens Guidance, Fixes Spread On Two-Part Bond
October 17 2011 - 6:18AM
Dow Jones News
Italian utility Enel SpA (ENEL.MI) set final price guidance on
its euro-denominated, two-part bond, one of the banks managing the
sale said Monday.
For the 2015 maturity, final price guidance is 290 basis points
over midswaps, tighter than the 300 basis points area initially
released.
Likewise for the 2018 maturity, final guidance is 350 basis
points over midswaps against an initial guidance of 360 basis
points area.
Order books reached EUR5 billion per tranche, one of the banks
said.
Barclays Plc, BNP Paribas SA, Deutsche Bank AG, Intesa Sanpaolo
Spa, BBVA, Banco Santander SA and UniCredit SpA are lead managers
on the transaction, which is expected to price later Monday.
The issuer is rated A3 by Moody's Investors Services Inc. and A-
by both Standard & Poor's Corp. and Fitch Ratings.
-By Serena Ruffoni, Dow Jones Newswires; +44 (0) 207 842 9349;
serena.ruffoni@dowjones.com
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