Eni Approves $3.4bn Bonds Issue

Italian Eni has approved the possible issue of bonds to a maximum aggregate value of €3bn ($3.42bn), in a range of currencies, it said January 17. The bonds will be placed with institutional investors in one or more tranches by the end of next year. The bonds will enable Eni to pre-fund the future financial needs and to maintain a well- balanced financial structure. The bonds may be listed on one or more regulated markets, it said.