San Donato Milanese (MI), January 12, 2026 – Eni (A- S&P / A- Fitch / A3 Moody's) intends today, in accordance with market conditions, to place a perpetual hybrid subordinated bond, denominated in euro, at fixed rate and intended for institutional investors only (the "Hybrid Bond") as part of its Euro Medium Term Note program.
The issue takes place in execution of the resolution of the Board of Directors of Eni on December 11, 2025 and is aimed at maintaining a well-balanced financial structure and financing Eni's general corporate purposes.
As specified in the relevant terms and conditions, Eni has the option to repay the Hybrid Bond at any time 3 months prior to the relevant first reset date and, thereafter, on each interest payment date; the first reset date is expected to fall 6.25 years from issue (April 19, 2032).
The Hybrid Bond will be listed on the regulated market of Borsa Italiana and the Luxembourg Stock Exchange.
Rating agencies are also expected to assign the bond a rating of BBB / BBB / Baa2 (S&P / Fitch / Moody's) and an “equity content” of 50%.
For the issuance of the Hybrid Bond, Eni avails itself of a syndicate of banks composed of Banca Akros, BBVA, BofA Securities, Citi, Deutsche Bank, Goldman Sachs International, IMI - Intesa Sanpaolo, ING, Mediobanca, Mizuho, MUFG, Natixis, Société Générale and UniCredit who will act as joint lead managers.
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