Utility giant Enel, one of Europe’s largest power generators, is set to pay higher interest rates on its sustainability-linked bonds as it has tied the coupons to an emissions reduction target it has missed. Italy-based Enel – which also has large operations in Spain, North America, and South America – has failed to meet its 2023 emission targets. Since it has linked the emissions target to several sustainability-linked bonds, the utility giant now faces higher coupon payments.
Back then, Enel decided to issue an innovative general corporate purpose financing product, which creates financial incentives for the company to fulfill its sustainable business in order to foster the evolution of sustainable capital markets.
Source: Energy Industry News (energyindustrynews.net)
Interest Rate Interest Utility Power Generator Sustainability Bonds
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