Italian energy company Enel is expected to successfully price the largest corporate bond sale in Europe for 18 months by the end of today, brushing aside concerns last week's rout in credit and equity markets had sliced through demand for corporate debt.

The sale, expected to be worth up to €5bn ($6.6bn), is the largest bond issue from the European corporate sector since Spanish telecoms group Telefónica sold a €5.8bn of bonds in January last year.