MILAN Jan 27 (Reuters) - Italian oil and gas group Eni is to raise 1 billion euros ($1.3 billion) from the sale of an eight-year fixed-rate bond, to balance its maturities.
Lead managers said on Friday the bond will be worth 1 billion euros and yield 220 basis points over the midswap rate.
Orders exceeded 11 billion euros when books were closed.
"Eni took advantage of a window of opportunity to sell the bond even though it has no bonds expiring throughout 2012," a corporate bond analyst said.
Credit Agricole CIB, HSBC, JP Morgan, MPS Capital Services and UniCredit handled the issue.
Eni is rated 'A1' and 'A' by Moody's and S&P respectively, with negative outlooks. ($1 = 0.7601 euro) (Reporting By Gabriella Bruschi; Writing by Danilo Masoni; Editing by Dan Lalor)
