ENI Successfully Placed the First Euro-denominated Sustainability-linked Bond in its Sector

Source Press Release
Company ENI S.p.A. 
Tags Renewable Energy, Environment, Strategy - Corporate
Date June 07, 2021

Eni has today successfully launched the first sustainability-linked bond in its sector, for a nominal amount of Euro 1 billion. The transaction was placed in the international Eurobond market, under its existing Euro Medium Term Note Programme.

Today’s issuance follows the adoption by Eni of the “Sustainability-Linked Financing Framework” published on May 20, 2021 and represents the world’s first sustainability-linked bond in the sector.

The 7 year bond has a re-offer price of 99.855% and pays an annual coupon of 0.375% which will remain unchanged to maturity subject to achievement of sustainability targets related to Net Carbon Footprint Upstream (Scope 1 and 2) and renewable energy installed capacity, as detailed in the relevant terms and conditions.

The proceeds of the bond issue will be used for general corporate purposes.

The bond will be traded on the Luxembourg Stock Exchange. The notes were bought by institutional investors mainly in France, Germany, United Kingdom and Italy.

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