Enel Prices EUR2.25 Billion 2-part Bond

Italian utility Enel SpA (ENEL.MI) priced its EUR2.25 billion two-part bond, one of the banks managing the sale said Monday.

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 has the following terms:

 
2015 tranche: 
Amount:           EUR1.25 billion 
Maturity:         June 24, 2015 
Coupon:           4.625% 
Reoffer Price:    99.805 
Spread:           290 basis points over midswaps 
2018 tranche 
Amount:           EUR1 billion 
Maturity:         October 24, 2018 
Coupon:           5.75% 
Reoffer Price:    99.338 
Spread:           350 basis points over midswaps 
Common terms: 
Payment Date:     October 24, 2011 
Debt Ratings:     A3 (Moody's) 
                  A- (Standard & Poor's) 
                  A- (Fitch) 
Denominations:    EUR100,000 
Listing:          Dublin 
Interest:         Annual

-By Serena Ruffoni, Dow Jones Newswires; +44 (0) 207 842 9349; serena.ruffoni@dowjones.com

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