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  • FINANCE, STRATEGY AND REPORTING

Eni: hybrid bond in euros successfully launched

San Donato Milanese (MI), January 12, 2026 – Eni S.p.A. ("Eni") today successfully launched a perpetual hybrid subordinated bond with a nominal value of 1 billion euros (the "Hybrid Bond"). The Hybrid Bond, purchased by institutional investors, was placed on the Eurobond market and received orders for over 6 billion euros, mainly from United Kingdom, Germany, France and Italy.

 

The Hybrid Bond will be issued with a re-offer price of 99.342% and will carry an annual coupon of 4.125% until the first reset date, scheduled to fall 6.25 years from issue (April 19, 2032).

If the early redemption does not take place, the annual coupon will be redetermined starting from April 19, 2032 and every 5 years thereafter, and equal to the 5-year Euro Mid Swap rate in force from time to time plus an initial margin of 163.7 basis points. Such margin will be further increased by 25 basis points from April 19, 2037 and a subsequent increase of a further 75 basis points from April 19, 2052.

 

The Hybrid Bond will be traded on the regulated market of Borsa Italiana and the Luxembourg Stock Exchange. The settlement date is expected to be January 19, 2026.

Contacts

  • Press Office

    • +39.0252031875 - +39.0659822030

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    • +39 0252051651

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