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Eni board approves potential €3B bond issuance

Eni SpA announced Jan. 17 its board of director had approved the potential issuance of one or more bonds of up to €3 billion, or its equivalent in other currencies.

The Italian oil major said the bonds will be issued in one or more tranches by Dec. 31, 2020, and will be placed with institutional investors. The bonds could be listed in one or more markets.

Eni said the bonds will be used to fund the unspecified "future financial needs" of the company as well as to "maintain a well-balanced financial structure."