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    Eni plans two bonds for general financing purposes


The Italian company is planning six- and nine- year maturties for the two bonds.

by: William Powell

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Natural Gas & LNG News, Europe, Premium, Renewables, Corporate

Eni plans two bonds for general financing purposes

Italian energy company Eni said May 4 it would the same day place two issues of euro-denominated perpetual subordinated hybrid bonds at a fixed rate, dedicated to institutional investors. The bonds are aimed at financing future needs and at maintaining a well-balanced financial structure. 

It has mandated a syndicate composed of Barclays, BNP Paribas, Citigroup, Goldman Sachs International, IMI - Intesa Sanpaolo, MUFG, NatWest Markets and UniCredit.

Eni may redeem either issue of hybrid bonds at any time within three months of the relevant first reset date and, subsequently, at each interest payment date. The reset date for the first bond is expected to be at six years after issue while for the second bond it is expected to be at nine years.