4th Nov 2021 13:03
(Alliance News) - Energean PLC on Thursday said it has launched an offering of USD400.0 million senior secured notes due 2027.
The London-based hydrocarbon exploration and production company said it intends to use the gross proceeds from the offering to repay all amounts outstanding under the Egypt reserve based lending facility and the Greek reserve based lending facility plus subordinated debt.
Energean said it will use the remaining monies to pay fees and other expenses related to the offering and for general corporate purposes.
The company said it will announce the pricing of the offering prior to its completion. There is no assurance that the offering will be completed or, if completed, as to the terms on which it is completed.
FTSE 250-listed Energean shares were trading 2.0% higher in London on Thursday at 910.00 pence each.
By Evelina Grecenko; [email protected]
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