Eni communicated the intention of place new bonds a fixed rate with duration of 4 years and 10 years, as part of its Euro Medium Term Note program. The goal of emissions is power finance future needs of the company and to maintain a balanced financial structure.
Bond loans are intended for institutional investors and will be placed compatibly with market conditions. Expected listing on the Luxembourg Stock Exchange.
The banks that will support the operation have already been indicated. For bond issues, the company makes use of a bank union composed of Crédit Agricole CIB, Goldman Sachs International, Intesa Sanpaolo (IMI CIB Division), MUFG, Santander, SMBC, Société Générale and UniCredit who will act as joint bookrunners.
Started the buyback program
Following theauthorization of the Shareholders' Meeting of 10 May 2023, Eni has started the new program to buy back treasury shares. The buyback it will have a value of 2,2 billion euros, which could rise to a maximum of 3,5 billion euros. The number of shares that can be purchased is 337 million, approximately 10% of the share capital. Of these, 275 million shares will go to remunerate shareholders.
It is expected in the next few days departure of the first tranche (the "First Tranche") of the program which will concern a maximum of 62 million Eni shares (approximately 2% of the share capital), for an outlay up to a maximum of 1 billion of Euro. The goal is to build a "securities warehouse" which can be used in the context of any extraordinary finance operations, such as, for example, issues of convertible bonds. Purchases will be performed on Euronext Milan through an authorized intermediary, who will act in complete independence. At the end of the First Tranche, a further purchase phase will be launched to complete the overall buyback plan envisaged.
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