Eni Secures €3 Billion Sustainability-Linked Revolving Credit Line

Eni Secures €3 Billion Sustainability-Linked Revolving Credit Line

(IN BRIEF) Eni, the energy company, has signed a Sustainability-Linked revolving credit line for a duration of five years, amounting to €3 billion. This credit facility is tied to two sustainability targets outlined in Eni’s Sustainability-Linked Financing Framework, which was most recently updated in April 2023. The credit line aims to bolster Eni’s financial flexibility and complements a previous €6 billion Sustainability-Linked credit line that was established in 2022. The interest rate margin for this new credit line will be determined based on the achievement of sustainability goals related to Eni’s Net Carbon Footprint Upstream (Scope 1 and 2) and its capacity for renewable electricity production. A consortium of 26 prominent global financial institutions is providing this credit line, with various institutions serving as coordinators, bookrunners, mandated lead arrangers, and lead arrangers.

(PRESS RELEASE) SAN DONATO MILANESE (MILAN), 5-Dec-2023 — /EuropaWire/ — Eni has signed a five-year Sustainability-Linked revolving credit line worth €3 billion, related to two targets of Eni’s Sustainability-Linked Financing Framework, last updated in April 2023. The new facility will further strengthen Eni’s financial flexibility, complementing a similar €6 billion Sustainability-Linked credit line signed in 2022.

The margin of the new credit line is linked to the achievement of sustainability targets relating to Net Carbon Footprint Upstream (Scope 1 and 2), as well as to the installed capacity for the production of electricity from renewable sources.

The credit line is granted by 26 leading global financial institutions. These include: Mediobanca (global coordinator, documentation and facility agent), MUFG (global and sustainability coordinator), Citi and Natixis (global coordinators), in addition to HSBC, UniCredit, and Intesa Sanpaolo (bookrunners), Bank of America, BNP Paribas, BPER Banca, Société Générale, and Wells Fargo (mandated lead arrangers), Agricultural Bank of China, BBVA, Banco BPM, Barclays Bank, Credit Agricole CIB, Deutsche Bank, DNB Bank, First Abu Dhabi Bank, Goldman Sachs, J.P. Morgan, National Bank of Kuwait, Santander Corporate & Investment Banking, SMBC Bank, and Standard Chartered (lead arrangers).

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SOURCE: Eni S.p.A