Eni plans to place two new issues of hybrid perpetual subordinated bonds today, denominated in euros, with fixed interest rates and aimed at institutional investors as part of its Euro Medium Term Note program, a note says.

Eni also intends to anchor a voluntary repurchase offer aimed at holders of its existing €1.5 billion hybrid bond with first call date in October 2025 and annual coupon of 2.625 percent and aimed at subsequently cancelling the repurchased bonds.

For the hybrid bond issuance, Eni is using a syndicate of banks consisting of Banca Akros, Barclays, BBVA, Deutsche Bank, Goldman Sachs International, HSBC, Mediobanca, MUFG, Société Générale Corporate & Investment Banking, and UniCredit who will act as joint lead managers.

The Tender Offer is supported by a group of banks Barclays, Goldman Sachs International, HSBC, UniCredit who will act as dealer managers.

(Francesca Piscioneri, editing Cristina Carlevaro)