By Pierre Bertrand

Eni said it has signed a new 3 billion-euro ($3.27 billion) credit line related to two of the company's sustainability-linked financing framework targets.

The five-year revolving credit line complements a similar EUR6 billion sustainability-linked credit line which was signed in 2022, the Italian oil major said Monday.

"The margin of the new credit line is linked to the achievement of sustainability targets relating to Net Carbon Footprint Upstream--Scope 1 and 2--as well as to the installed capacity for the production of electricity from renewable sources," Eni said.

The credit line was granted by 26 global financial institutions including Italian banks Mediobanca, UniCredit and Intesa Sanpaolo.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

December 04, 2023 05:02 ET (10:02 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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