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Eni prices $2B bond offering

Eni S.p.A. announced Sept. 5 it priced two tranches of U.S. dollar-denominated bonds for a total of $2 billion, saying it would use the proceeds for general corporate purposes.

The offering includes a five-year bond with a principal amount of $1 billion that pays a fixed annual coupon of 4%, with a re-offer price of 99.463%, as well as a 10-year bond with a principal amount of $1 billion that pays a fixed coupon of 4.750% with a re-offer price of 99.199%.

Eni said the offering is part of its strategy to rebalance the currency composition of its bond portfolio while maintaining a well-balanced capital structure in terms of its short and medium-long term debt maturity.

BNP Paribas, Bank of America Merrill Lynch, Citigroup, Goldman Sachs & Co. LLC, JP Morgan, Morgan Stanley and Wells Fargo acted as joint book runners for the offering, which was restricted to institutional investors.