Eni places €2B in dual-tranche bond issuance under €20B EMTN programme
What's the deal? Italian energy giant EniDealroom has a profile for this one. Try Dealroom → S.p.A. has completed two bond issuances with a combined nominal value of €2B. The bonds were issued under Eni's €20B Euro Medium Term Note (EMTN) programme, whose base prospectus was approved by Italian market regulator CONSOB last October.
The bonds are traded on both Borsa Italiana and the Luxembourg Stock Exchange.
Eight banks — BPER, Deutsche BankDealroom has a profile for this one. Try Dealroom →, HSBCDealroom has a profile for this one. Try Dealroom →, IMI – Intesa SanpaoloDealroom has a profile for this one. Try Dealroom →, J.P. Morgan, NATIXIS, Société Générale, and UniCredit — acted as joint lead managers. Simmons & Simmons advised Eni on the issuance, led by partner Paola Leocani and counsel Baldassarre Battista. Clifford Chance handled the tax aspects for Eni, with a team led by partner Carlo Galli. Linklaters advised the joint lead managers, led by counsel Linda Taylor.
Why now? The issuance comes as European corporate borrowers tap debt markets amid relatively favourable conditions. Eni's EMTN programme, with its €20B ceiling, gives the company flexibility to raise capital in tranches as funding needs and market windows align.
The signal: Eni's ability to place €2B across two tranches under a single EMTN programme — with eight major banks lining up as joint lead managers — reflects strong institutional confidence in investment-grade European energy issuers at a time when corporates are racing to lock in debt before rate conditions shift. The dual-listing on both Borsa Italiana and the Luxembourg Stock Exchange also points to Eni's intent to tap the widest possible pool of fixed-income investors across the continent.
Read more: dirittoeaffari.it
