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Crédit Agricole CIB acts in a securitisation transaction for Enel
In May, Crédit Agricole CIB successfully arranged the closing of an IFRS Off-B/S revolving securitisation for Enel. This maximum EUR 400 million financing refers to trade receivables originated by Enel Energia SpA towards its corporate clients (around 6,000 selected clients). Receivables arise from electricity contract.
The yearly estimated purchased receivables amount to around EUR 2.5 billion. The transaction is renewable by Enel and Crédit Agricole CIB every 6 months, up to five years of maximum extension.
Enel Energia SpA is a 100%-owned subsidiary of Enel SpA, Italy's largest power company. The Group is Europe's second listed utility by installed capacity.
