CaixaBank Corporate & Investment Banking (CIB) has acted as Joint Active Bookrunner on Enel’s €2.5 billion dual-tranche senior bond issuance, comprising a €1.25 billion 4-year tranche and a €1.25 billion 7-year tranche.
The transaction marks Enel’s largest-ever dual-tranche senior bond issuance and represents the company’s second transaction in 2026, following its hybrid bond issuance completed in January.
The deal was launched on one of the busiest days on record for Euro Corporate Investment Grade issuance by tranche count, yet it still attracted very strong investor demand.
Final order books exceeded €3.1 billion for the 4-year tranche and €2.4 billion for the 7-year tranche, representing oversubscription levels of 2.5x and 1.9x, respectively.
Strong market demand enabled Enel to increase the size of the transaction to €2.5 billion and achieve significant price tightening of 37 basis points for the 4-year tranche and 35 basis points for the 7-year tranche.
Final pricing was set at:
CaixaBank CIB congratulates Enel Group and all teams involved for the successful execution of this landmark transaction in the European corporate bond market.
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