Eni: Successfully Issued US$1 Billion Yankee Bond
Deal News | May 20, 2025 | White & Case LLP
White & Case LLP, a prominent global law firm, has played a pivotal role in the latest financial maneuver by Eni, a leading oil and gas company, by advising on its US$1 billion yankee bond issuance. The bonds, set with a fixed rate of 5.75% and maturing in 2035, have been issued under Rule 144A and Regulation S of the US Securities Act. The issuance was managed by a consortium of top-tier financial institutions including Barclays, Bofa Securities, Goldman Sachs International, and J.P. Morgan among others, acting as joint bookrunners. The team from White & Case guiding this transaction was led by partners in Milan, London, and Houston, making it a notable instance of cross-border legal and financial collaboration across the firm's multinational offices.
Sectors
- Legal Services
- Financial Services
- Oil & Gas
Geography
- United States – The bond was issued as a yankee bond under U.S. regulations and several American financial institutions participated.
- Italy – Eni is an Italian company, and several key participants from White & Case are based in Milan.
- United Kingdom – Partners from White & Case participating in advising came from London, indicating the cross-border nature of the role.
Industry
- Legal Services – White & Case LLP is a law firm providing legal advisory services in the issuance of the bond.
- Financial Services – The article involves multiple major banks and financial institutions acting as joint bookrunners for the bond issuance.
- Oil & Gas – Eni, an integrated energy company, is the principal entity issuing the yankee bond.
Financials
- US$1 billion – The total amount of the yankee bond issued by Eni.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| White & Case LLP | Advisor | Company | A global law firm advising on the legal aspects of the bond issuance. |
| Eni | Bond Issuer | Company | An Italian multinational oil and gas corporation issuing the US$1 billion bond. |
| Barclays | Joint Bookrunner | Company | One of the financial institutions managing the bond issuance process. |
| Bofa Securities | Joint Bookrunner | Company | A prominent financial institution participating as joint bookrunner. |
| Goldman Sachs International | Joint Bookrunner | Company | Provided financial services as a joint bookrunner for the bond. |
| J.P. Morgan | Joint Bookrunner | Company | Acted as one of the joint bookrunners for the bond issuance. |
| Citigroup | Joint Bookrunner | Company | Participated as one of the financial institutions in the issuance of the bond. |
| IMI - Intesa Sanpaolo | Joint Bookrunner | Company | An Italian banking group acting as a joint bookrunner. |
| Morgan Stanley | Joint Bookrunner | Company | Contributed to the process as one of the joint bookrunners. |
| Natixis | Joint Bookrunner | Company | Acted as joint bookrunner in the bond issuance. |
| Santander | Joint Bookrunner | Company | Provided services as a joint bookrunner to facilitate the bond deal. |
| SMBC Nikko | Joint Bookrunner | Company | Participated as one of the financial institutions in the bond process. |
| Wells Fargo Securities | Joint Bookrunner | Company | One of the joint bookrunners in the bond issuance. |