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MILAN, May 28 (Reuters) – Eni has launched an offer to repurchase the bonds from 1.028 billion euro, 0.25% coupon and maturing in November 2015, convertible into ordinary shares of Galp Energia.
This was announced by a company statement, adding that the repurchase price will be set according to a procedure ‘ competitive auction, with a minimum and a maximum set at 100,400 to 100.700.
The offer is in cash and involves a maximum of accepting 515 million, which Eni reserves “to increase or decrease, even significantly.”
The offer will close this afternoon at 17 hours Italian, subject to early closure or extension. Subsequently, the company will provide the aggregate nominal amount of the bonds offered and bought back is its price. The settlement on June 4.
Deutsche Bank, Mediobanca, Morgan Stanley and UBS are the ‘joint dealer managers’ operation; Morgan Stanley also plays the role of ‘settlement agent’.
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