Eni Launched Successful Fixed Rate Bond

Eni successfully launched a fixed rate bond issue for a notional amount of Euro 1 billion. The transaction was placed in the international Eurobond market. The bond has a 10-year maturity and pays a fixed annual coupon of 4.75%.

The reoffer price is 99.176%, which implied, at the moment of pricing, a spread of 30 basis points over the 10 year mid swap rate. Eni's credit rating is Aa2 for Moody's and AA for Standard&Poor's. The new bond will be listed on the Luxembourg Stock Exchange.

The transaction has been extremely successful both in Italy and abroad, although the market is presently characterized by high volatility.

Interest by a significant number of high quality institutional investors such as Asset Management firms and Insurances was mainly due to the strong credit profile of the company, its excellent name recognition, sector and rarity of access to the Eurobond market.

The notes were sold to institutional investors in Italy, France, UK, Germany, Finland, Portugal and Benelux.

Banca IMI, Citi, Mediobanca, UBS e UniCredit (HVB) had the role of Joint Lead Managers and Joint Bookrunners for the transaction.


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