Eni: the initial Conversion price of the € 400 million non-dilutive equity-linked bonds due 2022 has been determined
OREANDA-NEWS. As announced to the market on 6 April 2016, Eni S.p.A. ("Eni") has placed €400 million non-dilutive equity-linked bonds due 2022 (the "Bonds") providing for "conversion" rights at certain times and/or in presence of certain events, provided that the Bonds will be cash-settled (the "Conversion").
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.
The initial Conversion ratio per €100,000 principal amount of the Bonds is 5,674.6604 shares.