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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
UTIL
PRCD
ENELIM
Enel SpA€2,500
2EMEA
May 19, 2026
currency
EUR
size (m)
1,250.000
maturity
May 26, 2030
type
Fixed
tenor
4.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Baa1
s&p
BBB
fitch
BBB+
size description
-
re-open/tap
No
ipt
MS+95 area
ipt-pxd
-37
guidance
MS+65 area
spread
58
coupon
3.50%
spread set
-
price
99.68100
yield
3.587%
book size (m)
3,100
peak book (m)
4,520
x-covered
2.48
book attrition
-31.42%
nic
2
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
3,100
peak book (m)
4,520
x-covered
2.48
book attrition
-31.42%
nic
2
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
currency
EUR
size (m)
1,250.000
maturity
May 26, 2033
type
Fixed
tenor
7.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Baa1
s&p
BBB
fitch
BBB+
size description
-
re-open/tap
No
ipt
MS+120 area
ipt-pxd
-35
guidance
MS+90 area
spread
85
coupon
3.875%
spread set
-
price
99.51300
yield
3.956%
book size (m)
2,400
peak book (m)
3,530
x-covered
1.92
book attrition
-32.01%
nic
3
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,400
peak book (m)
3,530
x-covered
1.92
book attrition
-32.01%
nic
3
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 3100; Registration: Reg S Only; Comments: B+74.7 bps (OBL 2.4% 4/30 @ 98.39 / 2.840%). Par Call: 1m. MWC: B+15. Clean-Up Call: 80%. LEI: WOCMU6HCI0OJWNPRZS33; Book size: 2400; Registration: Reg S Only; Comments: B+94.2 bps (DBR 2.3% 2/33 TWIN @ 95.695 / 3.014%). Par Call: 3m. MWC: B+15. Clean-Up Call: 80%. LEI: WOCMU6HCI0OJWNPRZS33;
Deal Comments
Total Exp Size: EUR2bn Total Size: EUR 2.5bn Combined books >€8bn (excl. JLM , pre-rec)
Use of Proceeds
General Corporate Purposes
Relative Value

Senior

4 year (May 2030) @ MS+95 area

Implied Spread for fresh 4 year @ +56

Priced at MS +58

NIC of +2


Senior

7 year (May 2033) @ MS+120 area

Implied Spread for fresh 7 year @ +82

Priced at MS +85

NIC of +3


COMPS

Bond

Ratings

Tenor

Maturity

Amount (€m)

Bid i-sprd (bps)

ENELIM 3⅞ 29

Baa1/BBB

2.8

09/03/2029

1BN

33

ENELIM 0⅝ 29

Baa1/BBB

3

28/05/2029

1BN

41

ENELIM 0½ 30

Baa1/BBB

4.1

17/06/2030

1.25BN

57

ENELIM 0⅞ 31

Baa1/BBB

4.7

17/01/2031

750MM

62

ENELIM 3 31

Baa1/BBB

4.8

24/02/2031

750MM

56

ENELIM 4 31

Baa1/BBB

4.8

20/02/2031

750MM

60

ENELIM 0⅞ 34

Baa1/BBB

8.4

28/09/2034

1.25BN

92

ENELIM 1⅛ 34

Baa1/BBB

8.4

17/10/2034

500MM

89

ENELIM 1¼ 35

Baa1/BBB

8.7

17/01/2035

750MM

96

ENELIM 3⅞ 35

Baa1/BBB

8.7

23/01/2035

1BN

91

ENELIM 3½ 36

Baa1/BBB

9.8

24/02/2036

500MM

96

ENELIM 0⅞ 36

Baa1/BBB

10.1

17/06/2036

1BN

99