Eni to sell €1.25 billion three-year bonds exchangeable into Snam at 0.125%-0.625%, up 20%-25%

By Rebecca Melvin

New York, Jan. 15 - Eni SpA launched an offering of €1.25 billion three-year senior unsecured bonds exchangeable into ordinary shares of subsidiary Snam SpA that were talked to pay a coupon of between 0.125% and 0.625% and with an initial conversion premium of 20% to 25%, according to a company news release.

The Regulation S deal was being sold via joint bookrunners Barclays, Deutsche Bank, Mediobanca - Banca di Creditor Finanziario SpA and Morgan Stanley.

Eni plans to apply to list the bonds, and proceeds will be used for general corporate purposes.

Based in Rome, Italy, Eni is an oil and gas company.

Snam is an Italian natural gas infrastructure company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.