Investing.com – After the euro bond launched last January 8, Eni (BIT:) returned to the bond market, however choosing the dollar. The energy giant yesterday issued two fixed rate bonds in US currency with a duration of 10 and 30 years for a total nominal value of 2.25 billion US dollars.
The offer, aimed at institutional investors, met with high interest from the market, reaching an overall demand of approximately 11 billion US dollars, coming from approximately 180 professional investors for each tranche.
The 10-year bond (maturing May 15, 2034) was placed for an amount of 1 billion US dollars at a re-offer price of 99.333% and will pay an annual coupon of 5.50%.
The 30-year bond (maturing May 15, 2054) was placed for an amount of 1.25 billion US dollars at a re-offer price of 98.828% and will pay an annual coupon of 5.95%.
The issuance of the bonds is aimed at maintaining a balanced financial structure and the proceeds will be used for Eni’s general needs.
Who placed Eni bonds
For the issue Eni made use of a syndicate of banks made up of Barclays (LON:), BofA Securities, Citi, Goldman Sachs (NYSE:) International, IMI (LON:) – Intesa Sanpaolo (BIT:), JP Morgan, Morgan Stanley (NYSE:), Santander (BME:), Wells Fargo (NYSE:) Securities, who will act as joint bookrunner.
The last bond issued in January
The January bond was placed on the Eurobond market and had received orders for over 5 billion euros. In that case, the bond loan had a duration of 10 years (maturity 15 January 2034) and a fixed annual coupon of 3.875% until maturity.
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