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Eni SpA Completes Placement of EUR 1,250 Million Bonds Exchangeable Into Ordinary Shares of Snam SpA Corresponding to Approximately 8.54% of Share Capital

Tuesday, 15 Jan 2013 11:33am EST 

Eni SpA announced that it has completed the placement of EUR 1,250 million aggregate principal amount of senior, unsecured bonds, exchangeable into ordinary shares of Snam SPA (the Exchangeable Bond Offering). The Bonds will have a maturity of three years and will pay a coupon of 0.625% per cent per annum, payable annually in arrears. The Bonds will be exchangeable into Snam ordinary shares at an exchange price of EUR 4.33 per Snam ordinary share, representing approximately a 20 per cent premium to the Snam reference price of EUR 3.6113 per share. The Bonds are approximately 288.7 million ordinary shares of Snam, corresponding to approximately 8.54% of the Snam's share capital. Eni intends to apply for the admission of the Bonds to trading within 90 days following the settlement date. Barclays, Deutsche Bank, Mediobanca – Banca di Credito Finanziario SpA and Morgan Stanley have acted as Joint Bookrunners for the Exchangeable Bond Offering. 

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0.112 +2.82%
18 Dec 2014