-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HduwZk/pXzXqqOZdDsFz44ET7dQk0SsetDqFzH3NctGvjRk6hQjB7btAvtYRa3q8 609Ag/wUX2jpspR8jDf+OA== 0000898822-06-001534.txt : 20061222 0000898822-06-001534.hdr.sgml : 20061222 20061222173114 ACCESSION NUMBER: 0000898822-06-001534 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 20061222 DATE AS OF CHANGE: 20061222 GROUP MEMBERS: ACCIONA, S.A. GROUP MEMBERS: FINANZAS DOS, S.A FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Acciona, S.A. CENTRAL INDEX KEY: 0001377408 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: BUSINESS PHONE: 011 34 91 663 3093 MAIL ADDRESS: STREET 1: AVENIDA DE EUROPA, 18 STREET 2: PARQUE EMPRESARIAL LA MORALEJA CITY: ALCOBENDAS, MADRID STATE: U3 ZIP: 28108 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ENDESA SA CENTRAL INDEX KEY: 0001046649 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 000000000 STATE OF INCORPORATION: U3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-80961 FILM NUMBER: 061297876 BUSINESS ADDRESS: STREET 1: CALLE RIBERA DEL LOIRA 60 CITY: MADRID STATE: U3 ZIP: 28042 BUSINESS PHONE: 34-91-2131000 MAIL ADDRESS: STREET 1: 410 PARK AVE STREET 2: STE 410 CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 da.htm SCHEDULE 13D/A da.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D/A
(RULE 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(a) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)

(Amendment No. 7)*

Endesa, S.A.
(Name of Issuer)

American Depositary Shares, each representing the right to receive one ordinary share, nominal value €1.20 each
Ordinary Shares, nominal value €1.20 each
(Title of Class of Securities)

00029274F1
(CUSIP Number)

Acciona, S.A.
Avenida de Europa, 18
Empresarial La Moraleja, Alcobendas
Madrid, Spain 28108
Attention: Jorge Vega-Penichet
+34 91 663 2850

Copy to:

Wachtell, Lipton, Rosen & Katz
51 West 52nd Street
New York, New York 10019
Attention: Adam O. Emmerich
(212) 403-1000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

December 21, 2006
(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box ¨

NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

*      The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
 

     The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Act”), or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     This Amendment No. 7 (“Amendment No. 7”) amends and supplements the statement on Schedule 13D (as previously amended from time to time, the “Schedule 13D”) filed by Acciona, S.A. (“Acciona”) and Finanzas Dos, S.A. (“Finanzas” and together with Acciona, the “Reporting Persons”), pursuant to a Joint Filing Agreement filed with the original Schedule 13D on October 5, 2006, with respect to the ordinary shares, nominal value €1.20 each (a “Share”), and the American Depositary Shares (the “ADSs”), each representing the right to receive one Share of Endesa, S.A. (“Endesa” or the “Issuer”). Capitalized terms used and not defined in this Amendment No. 7 have the meanings set forth in the Schedule 13D. Except as specifically provided herein, this Amendment No. 7 does not modify any of the information previously reported in the Schedule 13D.

Item 3. Source and Amount of Funds or Other Consideration.

     Item 3 is hereby amended to add the following supplemental information:

     As contemplated, the Bridge Facility and the Additional Bridge Commitment are being refinanced with the Long-Term Financing (consisting of senior term loans and senior revolving loan facilities to be provided to Finanzas) and the Acciona Financing (consisting of a senior term loan and a senior revolving loan facility to be provided to Acciona) which will in turn be used to finance Acciona’s capital contributions and subordinated loans to Finanzas. The Long-Term Financing and the Acciona Financing total €8.191 billion, and have a final maturity of six years. They are being provided by Banco Santander, Banco Bilbao Vizcaya Argentaria, S.A. and Banca IMI, S.p.A., as bookrunners, Natexis Banques Populaires, Sucursal en España and Calyon, Sucursal en España, as Senior Mandated Lead Arrangers, and Bank of Scotland, Sucursal en España and BNP Paribas Sucursal en España, as Mandated Lead Arrangers (collectively, the  47;Lenders”). The Bridge Facility and the Additional Bridge Commitment are expected to be repaid in full on or about December 29, 2006, using €5,551,395,821.67 to be drawn by Finanzas under the Long-Term Financing, and €1,419,565,378.33 to be contributed as a subordinated loan to Finanzas by Acciona, the total amount of which will in turn be provided to Acciona by the Lenders under the Acciona Financing. In addition, on December 29, 2006, Finanzas will draw down under the Long-Term Financing €23,596,427 to repay the shareholders loan received from Acciona to fund the acquisition of Shares.

     On December 21, 2006, Finanzas and the Lenders entered into a Credit Agreement (the “Finanzas Credit Agreement”) for the Long-Term Financing in the maximum amount of €5,678,261,513.32. The interest rate payable by Finanzas under the Finanzas Credit Agreement for the senior term loan tranche of €4.595 billion is initially EURIBOR plus 60 basis points per annum and increases over the term of the loan to EURIBOR plus 90 basis points per annum; the interest rate for the senior revolving loan tranche of €1.083 billion is EURIBOR plus 50 basis points per annum, with such margin to be reviewed annually and reset in a range of 0.60% to 0.30% depending on a Net Financial Debt / EBITDA ratio of the Acciona group on a consolidated basis. Shares held by Finanzas, Finanzas’ own shares, Finanzas’ bank accounts and Finanzas’ rights under the Coverage Ratio Commitment (as defined below) and under interest rate hedging agreements are pledged by Finanzas to the Lenders to secure Finanzas’ obligations under the Long-Term Financing. Finanzas incurred structuring and underwriting fees payable to the Lenders in connection with the Finanzas Credit Agreement of 0.85% of the principal amount thereof.

     The Finanzas Credit Agreement is in Spanish. An English translation is being prepared, and will be filed as an exhibit to the Schedule 13D as soon as it is available.

     Acciona has not guaranteed the Long-Term Financing. The Finanzas Credit Agreement requires Finanzas to be funded with subordinated loans in the amount of €1,419,565,378.33, and requires Acciona to commit (the “Coverage Ratio Commitment”) to make additional subordinated loans to Finanzas of up to €1,083,277,312.52 as needed to pay down the revolving loan facility so as to maintain a coverage ratio of 115% of the market value of the Shares held by Finanzas to the outstanding balance of the Long-Term Financing. Acciona has also agreed to refund to Finanzas an amount equivalent to any tax credits

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generated by Finanzas and used by Acciona to reduce its taxable profit on a consolidated basis. Conversely, Finanzas has agreed to refund to Acciona any tax debts generated by Finanzas and paid by Acciona as head of the tax consolidated group.

     As previously reported, Banco Santander also provided a commitment to Acciona to provide the Acciona Financing to finance Acciona’s capital contributions and subordinated loans to Finanzas (including the subordinated loans required by the Coverage Ratio Commitment). Accordingly, also on December 21, 2006, Acciona and the Lenders entered in to a Credit Agreement (the “Acciona Credit Agreement”) to provide for the Acciona Financing. Loans under the Acciona Credit Agreement bear interest at EURIBOR plus 50 basis points per annum, with such margin to be reviewed annually and reset in a range of 0.60% to 0.30% depending on a Net Financial Debt / EBITDA ratio of the Acciona group on a consolidated basis. Acciona incurred structuring and underwriting fees payable to the Lenders in connection with the Acciona Credit Agreement of 0.40% of the principal amount thereof. Acciona’s expects to initially draw down €1,429,616,955.40 on the Acciona Credit Agreement, which it will use to finance the subordinated loan as described above and to pay the fees and expenses incurred in connection with the Acciona Credit Agreement. The Acciona Credit Agreement is in Spanish. An English translation is being prepared, and will be filed as an exhibit to the Schedule 13D as soon as it is available.

     Acciona has filed an Hecho Relevante with the Spanish Comisión Nacional del Mercado de Valores with respect to this refinancing, and the Hecho Relevante is attached hereto as Exhibit 99.22 and incorporated herein by reference.

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

     Item 6 is hereby amended to add the following supplemental information:

     The information set forth in Item 3 above is hereby incorporated in this Item 6 by reference.

Item 7. Material to be Filed as Exhibits.

10.1      English Translation of Bridge Credit Contract, dated September 26, 2006, between, Finanzas Dos, S.A. as guaranteed party, Acciona, S.A as guarantor, Banco Santander Central Hispano, S.A. as financing entity. (1)
 
10.2      English Translation of Bridge Credit Commitment, dated September 26, 2006, from Banco Santander Central Hispano, S.A. to Acciona, S.A. (1)
 
10.3      English Translation of Commitment Letter, dated September 26, 2006, from Banco Santander Central Hispano, S.A. to Acciona, S.A. and Finanzas Dos, S.A and related Term Sheets. (1)
 
10.4      International Swaps and Derivatives Association, Inc. Master Agreement, dated as of September 25, 2006, between Banco Santander Central Hispano, S.A. and Finanzas Dos, S. A. (with Confirmations dated September 25, 2006, September 27, 2006, October 3, 2006, October 4, 2006, October 5, 2006, October 6, 2006, October 9, 2006, October 10, 2006 and October 11, 2006). (1)
 
 
 
10.5      Confirmations with respect to the Total Return Swaps entered into on October 12, 13, 16, 17 and 19, 2006. (2)
 
10.6      English Translation of Amendment and Extension of Bridge Loan Agreement, dated November 15, 2006, by and among Banco Santander Central Hispano, S.A. Acciona, S. A. and Finanzas Dos, S.A. (5)
 
 

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10.7      English Translation of Stock Purchase Order from Acciona, S.A. to Banco Santander Central Hispano, S.A., dated September 25, 2006. (6)
 
10.8      English Translation of letter from Acciona, S.A. to Banco Santander Central Hispano, S.A., dated September 25, 2006. (6)
 
10.9      English Translation of Credit Agreement between Finanzas Dos, S.A. and the Lenders, dated December 21, 2006.*
 
10.10      English Translation of Credit Agreement between Acciona, S.A and the Lenders, dated December 21, 2006.*
 
99.1      Complaint filed on October 12, 2006 by E.ON AG and E.ON Zwölfte Verwaltungs GmbH against Acciona, S.A. and Finanzas Dos, S.A. (Civil Action No. 06 CV 8720). (1)
 
99.2      Hecho Relevante (No. 71725) filed on October 20, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Response to query from the CNMV as to Acciona’s intent as an Endesa shareholder.) (English Translation) (2)
 
99.3      Resolutions of the Comisión Nacional de la Energia (CNE) regarding Acciona, S.A.’s and Finanzas Dos, S.A.’s ownership in Endesa securities, dated November 3, 2006. (3)
 
99.4      Amended Complaint filed on November 3, 2006, by E.ON AG, E.ON Zwölfte Verwaltungs GmbH and BKB AG against Acciona, S.A. and Finanzas Dos, S.A. (Civil Action No. 06 CV 8720). (3)
 
99.5      Hecho Relevante (No. 72281) filed on November 10, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Notification of acquisition of an additional 9.63% of the Shares.) (4)
 
99.6      Press release issued by Acciona, S.A., dated November 10, 2006. (4)
 
99.7      Hecho Relevante (No. 72898) filed on November 21, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Notification of acquisition of an additional 0.37% of the Shares.) (5)
 
99.8      Opinion and Order rendered by the Honorable Denise Cote, United States District Judge, United States District Court, Southern District of New York, in E.ON AG and E.ON Zwölfte Verwaltungs GmbH v. Acciona, S.A. and Finanzas Dos, S.A. (Civil Action No. 06 CV 8720), dated November 20, 2006. (5)
 
 
99.9      Hecho Relevante (No. 71032) filed on September 25, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Notification of the acquisition of a 10% interest in Endesa.) (English Translation) (6)
 
99.10      Anuncios a la CNMV (No. 71035) released on September 26, 2006 by the Spanish Comisión Nacional del Mercado de Valores. (Copy of Announcement by the CNMV in relation to Acciona and Endesa.) (English Translation) (6)
 
 
99.11      Hecho Relevante (No. 71036) filed on September 26, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Press release relating to the acquisition of a 10% interest in Endesa.) (English Translation) (6)
 

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99.12      Hecho Relevante (No. 71037) filed on September 26, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Powerpoint presentation relating to the acquisition of a 10% interest in Endesa.) (English original) (6)
 
99.13      Hecho Relevante (No. 71040) filed on September 26, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Copies of the materials included in Hechos Relevantes Nos. 71032, 71036 and 71037, and additional press release in response to certain media reports.) (The Powerpoint presentation filed as Hecho Relevante No. 71036, which was originally prepared in English, is not refiled as part of this Exhibit, but is filed as Exhibit 99.12.) (English Translation) (6)
 
99.14      Hecho Relevante (No. 71074) filed on September 26, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Additional information relating to Acciona’s investment in Endesa.) (English Translation) (6)
 
99.15      Anuncios a la CNMV (No. 71075) released on September 26, 2006 by the Spanish Comisión Nacional del Mercado de Valores. (Copy of Announcement by the CNMV in relation to Acciona.) (English Translation) (6)
 
 
99.16      Hecho Relevante (No. 71151) filed on September 27, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Notification in relation to Total Returns Swaps having reach 5.01%.) (English Translation) (6)
 
99.17      Hecho Relevante (No. 71504) filed on October 16, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Notification of the commencement of a lawsuit by E.ON in the United States District Court for the Southern District of New York.) (English Translation) (6)
 
99.18      Hecho Relevante (No. 71699) filed on October 20, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Notification in relation to Total Returns Swaps having reached 9.63%.) (English Translation) (6)
 
99.19      Hecho Relevante (No. 71703) filed on October 20, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Including copies of (a) (in the original Spanish) of the Bridge Credit Contract filed as Exhibit 10.1, the Bridge Credit Commitment filed as Exhibit 10.2, the Commitment Letter and related Term Sheets filed as Exhibit 10.3; (b) (in the original English) the International Swaps and Derivatives Association, Inc. Master Agreement with Confirmations dated September 25 and 27, 2006 and October 3, 4, 5, 6, 9, 10 and 11, 2006 filed as Exhibit 10.4; (c) (in the original English and Spanish translation) Amendment No. 1 to the Schedule 13D; and (d) (in Spanish translation) the Complaint filed as Exhibit 99.1 (English Translation, without exhibits filed otherwise with this Schedule 13D) (6)
 
99.20      Hecho Relevante (No. 72034) filed on November 6, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Notification of CNE approval, including official notice of the CNE filed previously as Exhibit 99.3.) (English Translation) (6)
 
99.21      Supplemental and Amended Complaint filed on November 17, 2006, by E.ON AG, E.ON Zwölfte Verwaltungs GmbH and BKB AG against Acciona, S.A. and Finanzas Dos, S.A. (Civil Action No. 06 CV 8720) (6)
 
 

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99.22      Hecho Relevante (No. 74537) filed on December 22, 2006 by Acciona, S.A. with the Spanish Comisión Nacional del Mercado de Valores. (Notification related to the Long-Term Financing and the Acciona Financing.)
 
*      To be filed by Amendment.
 
  (1)      Filed with Amendment No. 1 to the Schedule 13D
 
  (2)      Filed with Amendment No. 2 to the Schedule 13D
 
  (3)      Filed with Amendment No. 3 to the Schedule 13D
 
  (4)      Filed with Amendment No. 4 to the Schedule 13D
 
  (5)      Filed with Amendment No. 5 to the Schedule 13D
 
  (6)      Filed with Amendment No. 6 to the Schedule 13D
 

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SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: December 22, 2006

ACCIONA, S.A.
 
 
By:                /s/Jorge Vega-Penichet
    Name:   Jorge Vega-Penichet
    Title:   Company Secretary


FINANZAS DOS, S.A.
 
 
/s/Vicente Santamaria
         By:   de Paredes Castillo
         Name:   Vicente Santamaria
    de Paredes Castillo
         Title:   Company Secretary

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 EX-99.22 2 exhibit9922.htm EXHIBIT 99.22 exhibit9922.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing


Exhibit 99.22

COMISION NACIONAL DEL MERCADO DE VALORES
Paseo de la Castellana, 19
28046 – Madrid –

Madrid, 22 de diciembre de 2006

Muy Sres. nuestros:       Dear Sirs,
 
En cumplimiento de lo dispuesto en el   Pursuant to what it is established in Art.
Art. 82 de la Ley 24/1988, de 28 de Julio,   82 of Law 24/1988, dated July 28, of the
del Mercado de Valores, ACCIONA, S.A.   Securities Market, ACCIONA, S.A.
comunica lo siguiente     reports the following
 
INFORMACION RELEVANTE   MATERIAL INFORMATION
 
Ayer, 21 de Diciembre de 2006, Acciona,   Yesterday, December 21, 2006, Acciona,
S.A. y su filial Finanzas Dos, S.A. han   S.A. and its subsidiary Finanzas Dos, S.A.
firmado la financiación a largo destinada a   entered into the long-term financing
la adquisición del 20% del capital de   arrangements for the acquisition of 20%
ENDESA por un importe total de €8.191   of the share capital of ENDESA, in an
millones. En la financiación, a través de la   aggregate amount of €8,191 million. The
cual se refinancian los Créditos Puente,   financing, through which the existing
cuyo plazo es de seis años bullet,   bridge facilities are refinanced, has a
participan como BookRunners BSCH,   bullet maturity of six years and was
IMI San Paolo y BBVA, como SMLAS   provided by BSCH, IMI San Paolo and
Natexis y Calyon y como MLAS RBS y   BBVA as BookRunner, Natexis and
BNP.         Calyon as SMLAS and RBS and BNP as
          MLAS.
 
La financiación se estructura en dos   The financing is structured in two layers:
partes:          
 
- Para ACCIONA, S.A. un importe de   - For ACCIONA, S.A., an amount of
€1.429 millones mas una línea contingente   €1,429 million plus a contingent facility
de €1.083 millones, cuyos términos   of €1,083 million, the terms of which
incluyen un interés EURIBOR más un   include interest at EURIBOR plus a
margen del 0,30% a 0,60%, en función de   margin of 0.30% to 0.60%, depending
un ratio Deuda Neta/EBITDA. La   upon a Net Debt/EBITDA ratio. The
comisión de aseguramiento y   structuring and underwriting fee of this
estructuración de esta parte es de 0,40%.   layer amounts to 0.40%.
 
Las cantidades dispuestas en virtud de esta   The amounts drawn under this facility will


línea se aportarán por Acciona, S.A. a su
filial Finanzas Dos, S.A., en concepto de
Deuda Subordinada.         		 
 
  		be provided by Acciona, S.A. to its
subsidiary Finanzas Dos, S.A as
subordinated debt.
 
- Para Finanzas Dos, S.A., sociedad 100%
controlada por ACCIONA, S.A., un
importe de €1.083 millones en las
mismas condiciones antes indicadas.   		 
 
 
  		- For Finanzas Dos, S.A., a company
100% controlled by ACCIONA, S.A., a
tranch amounting to €1,083 million, in the
same conditions indicated above.
 
Y otro tramo por importe de €4.595
millones, cuyos términos incluyen un
interés EURIBOR más un margen
creciente del 0,60% al 0,90% en función
del tiempo transcurrido desde el cierre de
la operación. La comisión de
aseguramiento y estructuración es de
0,85%.             		 
 
 
 
 
 
 
  		And another tranche amounting to €4,595
million the terms of which include interest
at EURIBOR plus a margin of 0.60% to
0.90% increasing based upon the time
elapsed      since      the closing of the
transaction. The structuring and
underwriting fee amounts to 0.85%.
 
Los contratos se pondrán oportunamente a
disposición de esa Comisión, mediante
comunicación separada, una vez que la
compañía cuente con las versiones
auténticas.           		 
 
 
 
  		The agreements will be timely made
available to that Commission, by a
separate communication, once the
company has the authentic versions.

Atentamente/Yours faithfully,

 

Fdo: Jorge Vega-Penichet
Secretario del Consejo
Company Secretary

2

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