Coal transition slowdown threatens Enel with record SLB step-up coupon

Italian utility company Enel is expected to miss emissions targets that are key to 10 of its sustainability-linked bonds

A slowdown in Europe’s shift from coal to gas has hampered utility giant Enel’s progress towards slashing its greenhouse gas emissions, meaning it will probably have to foot as much as $27mn in additional interest payments in “the largest step-up coupon paid in the SLB market to date”.