|
Energean PLC on Wednesday priced an issue of $750 million of 10-year senior secured debt notes through its subsidiary Energean Finance Ltd. The hydrocarbon exploration and production company said it will pay a fixed annual interest rate of 8.5% semi-annually on March 30 and September 30 of each year. The notes will mature on September 30, 2033. Energean expects the sale of the notes to be completed on or around July 11. They will be traded on the Tel Aviv Stock Exchange. The proceeds from the note sale will be used to redeem $625 million in senior secured notes that are due in 2024 and to pay the final deferred consideration for Energean’s 2021 acquisition of the remaining 30% interest in Energean Israel from Kerogen Investments No.38 Ltd, an affiliate of Kerogen Capital. Shares in Energean were down 0.5% at 992.50 pence each in London on Wednesday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
