(Alliance News) - Eni Spa announced Monday that it has signed a new EUR3 billion five-year sustainability-linked revolving credit facility linked to the achievement of two targets in its Sustainability-Linked Financing Framework updated in April.

The new facility will further strengthen the company's financial flexibility, complementing the similar EUR6 billion sustainability-linked credit facility signed in 2022.

The margin of the new credit facility is linked to the achievement of sustainability targets related to upstream net carbon footprint and installed capacity for renewable power generation.

The credit line is granted by 26 leading global financial institutions, including Mediobanca Spa as global coordinator, documentation and facility agent, MUFG as global coordinator and sustainability coordinator, Citi and Natixis as global coordinators.

Also participating in the syndicate are HSBC, UniCredit Spa and Intesa Sanpaolo Spa as bookrunners, Bank of America, BNP Paribas, BPER Banca, Société Générale and Wells Fargo as mandated lead arrangers, Agricultural Bank of China, BBVA, Banco BPM, Barclays Bank, Credit Agricole CIB, Deutsche Bank, DNB Bank, First Abu Dhabi Bank, Goldman Sachs, JPMorgan, National Bank of Kuwait, Santander Corporate & Investment Banking, SMBC Bank and Standard Chartered in the role of lead arrangers.

Eni's stock is down 2.0 percent at EUR14.95 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.