ENEL AND EIB AGREE ON LONG TERM FINANCING OF 380 MLN FOR INVESTMENTS IN ENEL DISTRIBUZIONE GRID

Published on Thursday, 26 July 2012

Rome, July 26th, 2012 – Late yesterday evening Enel Distribuzione S.p.A. (“Enel Distribuzione”, a wholly-owned subsidiary of Enel S.p.A.) signed an agreement with the European Investment Bank (“EIB”) for a 380 million euro loan aimed at covering a portion of its investments relating to efficiency improvements in the Italian electricity grid provided for in Enel Distribuzione’s 2012-2014 business plan.

The investments financed by the loan are intended to upgrade the national distribution grid, with more than 37% of the spending allocated for works in southern Italy.

The initiatives will enable the connection of distributed renewable generation plants to the grid and improve service quality, with a reduction of the duration and number of interruptions per customer.

The 20-year financing agreement (maturing in 2032) has a 5-year grace period (until 2018). The funds will be disbursed by the end of 2012 and secured by a Parent Company guarantee provided by Enel S.p.A.

The competitive loan terms include the application of a margin of 155 basis points over the Euribor for the period.

This operation, like many other similar ones, is an indication of the EIB’s endorsement of the validity of Enel Group's investment strategy.

 

Enel press releases have all now smartphone and tablet versions.
Download Enel Mobile App from  Apple Store, Google Play and BlackBerry App World

Economic | July, 26 2012

1653945-3_PDF-1.pdf

PDF (0.05MB)DOWNLOAD

Enel S.p.A. provides for the dissemination to the public of regulated information by using SDIR NIS, managed by BIt Market Services, a London Stock Exchange Group's company, with registered office at Milan, Piazza degli Affari, 6. For the storage of regulated information made available to the public, Enel S.p.A. has adhered, as from July 1st, 2015 to the authorized mechanism denominated “NIS-Storage”, available at the address www.emarketstorage.com, managed by the above mentioned BIt Market Services S.p.A. and authorized by CONSOB with the resolution No. 19067 of November 19th, 2014. From May 19th 2014 to June 30th 2015 Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by CONSOB with resolution No. 18852 of April 9th, 2014