The six-legged dog successfully returns to the market bond.
After giving a Banca IMI, BBVA, Deutsche Bank AG, The Royal Bank of Scotland and Société Générale the mandate to organize a 7-year fixed-rate issue, Eni collected this morning 750 million euro on the Euromarket.
The bond, which will expire in June 2019, collected orders for 1,5 billion euros. A success, therefore, which has allowed the institution to reduce the fork of the spread to 215-220 basis points.
The question, for one bid to cover double the offer, came from 175 institutional investors, and the success of the operation can be deduced from the difference between the average rate of return offered by the Eni bond (under 4%) compared to the BTP of similar duration, which recognizes a yield of around 5,50%.
