Deals this week: Enel, Siva Power, Sunetric

25 May 2017 (Last Updated May 25th, 2017 18:30)

Enel has announced its intention to raise $2bn through a private placement of 3.625% bonds due 2027.

Enel has announced its intention to raise $2bn through a private placement of 3.625% bonds due 2027.

The placement will be made through Enel’s financial arm, Enel Finance International.

The company will issue bonds at 98.99% of the principal amount to the US and international institutional investors. The offer is a part of the company’s strategy to issue bonds worth up to  €7bn ($7.42bn).

Book-runners for the placement include Bank of America Merrill Lynch, Barclays, BNP Paribas, Citigroup, Credit Suisse Group, The Goldman Sachs Group, HSBC Holdings, JP Morgan, Morgan Stanley, and Societe Generale.

Net proceeds from the placement will be used for refinancing the consolidated debts that are nearing maturity.

Siva Power has announced that it has raised $25m in a venture financing round led by Jim Simons, Mark Heising, and Jonathan Sheets.

Proceeds are intended to be used to establish a pilot line and develop the solar module business.

"Sunetric will provide the Aloha state customers with a Sunnova Energy’s PowerStack service plan."

Sunetric has announced formation of a partnership with Sunnova Energy to provide competitive and affordable solar solutions with battery storage to residential customers in Hawaii, US.

Sunetric is a renewable energy services provider, while Sunnova Energy is provides residential solar services.

Sunetric will provide the Aloha state customers with a Sunnova Energy’s PowerStack service plan, which covers everything from the panels, to the battery, and the wires.

Atlantis Resources has announced plans to raise up to £4.05m ($5.27m) in gross proceeds through private placement of up to nine million shares priced at £0.45 ($0.59) a share.

Peel Hunt and Macquarie Capital are acting as joint book-runners for the placement.

Net proceeds from the transaction are intended to be used to identify and develop new opportunities, and advance the existing projects. Part of the funds will also be used for general working capital and for the repayment of certain debts.

JSW Energy has announced its plans to raise Rs10bn ($154.3m) in a private placement of bonds / redeemable non-convertible debentures.

Based in India, JSW Energy is engaged in the power generation business.