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Eni: Conversion price of €400m bonds determined

1.8884819Italian energy firm, Eni, has said as announced to the market on 6 April 2016, it has placed €400 million non-dilutive equity-linked bonds due 2022 providing for “conversion” rights at certain times and/or in presence of certain events, provided that the Bonds will be cash-settled.


The initial Conversion price for the Bonds has been set at €17.6222, representing a 35% premium above the share reference price of €13.0535 determined as the arithmetic average of the daily volume-weighted average prices of an ordinary share of Eni on the Milan Stock Exchange over a period of seven consecutive scheduled trading days, starting on 7 April 2016.

Eni said in an update that the initial Conversion ratio per €100,000 principal amount of the Bonds is 5,674.6604 shares.



Source: http://classfmonline.com/1.8960151


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