1st May 2014 12:50
LONDON (Alliance News) - Genel Energy PLC Thursday priced the issue of USD500 million senior unsecured bonds maturing in 2019 at 7.50%.
The oil and gas exploration and production company had previously said it intended to issue USD400 million in senior unsecured bonds, but on Thursday said it increased the size of the offering to USD500 million.
Genel Energy said it will use the net proceeds towards a combination of field development costs as well as for general corporate purposes.
It said the offering is expected to complete on or around May 14.
Genel Energy shares were up 0.1% at 970.00 pence Thursday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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