ENI: about to issue a 'green' bond
(CercleFinance.com) - Eni has said today that it intends to place the first sustainability bond (in euros) in its sector, with a 7-year maturity, under the Euro Medium Term Note program.
The bond will be linked to the achievement of certain sustainability targets, both in terms of CO2 emissions (less than 7.4 million tonnes of CO2 or equivalent by 31 December 2024) and installed renewable energy capacity (at least 5 GW by 31 December 2025).
The interest rate will remain unchanged until maturity subject to the achievement of the above targets.
However, if one of the targets is not met, a mechanism will be applied, increasing the rate by 25 basis points, Eni says.
The purpose of the bond issue is to finance Eni's future needs and maintain a well-balanced financial structure, it said.
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