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by Chris Reich
Sep 23, 2025 4:02 PM ET
Enel Finance International NV (ENELIM) exp Baa1/BBB/BBB+ US$4.5bn 144A/Reg S no reg rights 4-part sr notes (3y FXD due 9/30/28, 5y FXD due 9/30/30, 10y FXD due 9/30/35 and 30y FXD due 9/30/55). MWC then 1mo par call on 5y, 3mos on 10y and 6mos on 30y. BNP/BofA/Citi/CACIB/GS/HSBC/IMI/JPM (B&D)/Miz/MS/SG/WFS joint active books. Guarantor: Enel SpA. Guarantor ratings: Baa1/BBB/BBB+ (s/s/s). First Pay: 3/30/26. Day Count: 30/360. Denoms: 200,000 x 1,000. Sale into Canada: Yes - exemption. UOP: gcp. Marketing: e-red, netroadshow: https://www.netroadshow.com/nrs/home/#!/?show=9677ebd6. Pricing 9/23. Settle 9/30 (T+5). 144A CUSIP: 3y: 29278GBF4, 5y: 29278GBG2, 10y: 29278GBH0, 30y: 29278GBJ6. ISIN: 3y: US29278GBF46, 5y: US29278GBG29, 10y: US29278GBH02, 30y: US29278GBJ67.
IPTs: 3y T+95 area, 5y T+110 area, 10y T+130 area, 30y T+145 area.
GUIDANCE: 3y T+65#, 5y T+80#, 10y T+100#, 30y T+112#.
LAUNCHED: $1bn 3y at T+65, $1.25bn 5y at T+80, $1.25bn 10y at T+100, $1bn 30y at T+112.
PRICED:
$1bn 4.125% 9/30/28 99.766 4.209% T+65. MW+10.
$1.25bn 4.375% 9/30/30 99.596 4.466% T+80. MW+15.
$1.25bn 5.00% 9/30/35 99.162 5.108% T+100. MW+15.
$1bn 5.75% 9/30/55 98.663 5.845% T+112. MW+20.