Eni Successfully Places EUR1 Billion Perpetual Hybrid Bond

(Alliance News) - Eni Spa announced on Monday the successful placement of a new perpetual hybrid subordinated bond issue with a total nominal value of EUR1 billion, exclusively reserved for institutional investors and placed on the Eurobond market.

The transaction attracted demand exceeding expectations, with total orders surpassing EUR6 billion, largely from investors in the UK, Germany, France, and Italy.

The bond was issued at a re-offer price of 99.342% and features an annual coupon of 4.125% until the first reset date, set at 6.25 years from issuance, on April 19, 2032.

If not redeemed early, the coupon will be recalculated from that date and subsequently every five years, based on the five-year Euro Mid Swap rate plus an initial spread of 163.7 basis points. This margin will increase by an additional 25 basis points from April 19, 2037, and by a further 75 basis points from April 19, 2052.

The hybrid bond will be traded on the regulated markets of Borsa Italiana and the Luxembourg Stock Exchange, with the settlement date scheduled for January 19, 2026.

Eni shares are up 0.3% at EUR16.11 per share.

By Antonio Di Giorgio, Alliance News reporter

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