Eni mandated Barclays, Goldman Sachs, Mediobanca, Morgan Stanley, Société Générale and Unicredit to organize the placement of an 8-year fixed-rate benchmark bond issue and to reopen the 12-year bond issued last September. The company communicates it in a note, specifying that both bonds will be placed on the Euromarket and issued as part of its existing Euro Medium Term Notes program.
The issues take place in execution of the resolutions passed by the Board of Directors on May 30 and are aimed at maintaining a balanced financial structure in relation to the ratio between short and medium/long-term debt and the average life of Eni's debt.
The loans, intended for institutional investors, will be placed compatibly with market conditions and subsequently listed on the Luxembourg stock exchange. Eni's long-term debt rating is A3 (outlook negative) by Moody's and A (credit watch negative) by Standard & Poor's.
