ENI Successfully Prices Fixed Rate USD-denominated Bonds

Source Press Release
Company ENI 
Tags Strategy - Corporate
Date September 05, 2018

Eni successfully returned to the US market and priced today a dual tranche fixed rate bond issue with maturities of 5 and 10 years for a total principal amount of USD 2 billion.

The 5 year bond has a principal amount of USD 1 billion, pays a fixed annual coupon of 4.000% and its re-offer price is 99.463%. The 10 year bond has a principal amount of USD 1 billion, pays a fixed annual coupon of 4.750% and its re-offer price is 99.199%.

The proceeds of the bond will be used for Eni’s general corporate purposes.

Eni’s offering generated significant interest from the market, reaching a demand of around USD 10 billion. In particular, a significant number of institutional investors participated in the offering, including fund management firms, insurance companies and pension funds; this strong interest enabled Eni to significantly reduce the pricing offered compared to the opening terms. With this transaction,  Eni has continued to rebalance the currency composition of its bond portfolio.

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