Investing.com – After the euro bond launched last January 8, Eni (BIT:) returns to the bond market but this time chooses the dollar. The energy giant announced today its decision to place two new fixed rate bond issues in US currency with a duration of 10 and 30 years.
The issue of the bonds takes place in execution of what was resolved by the Board of Directors on 4 April 2024 and is aimed at maintaining a balanced financial structure and the proceeds will be used for Eni’s general needs.
The bonds are intended for institutional investors and will be placed consistent with market conditions.
Who is responsible for placing Eni bonds
For the issue Eni uses 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.
In the wake of the drop in prices, at 3pm Eni shares lost 0.95% compared to the 14.968 euros per share the day before with a market capitalization of around 47.29 billion euros.
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