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Energean PLC on Monday said it has signed a 10-year, senior-secured term loan with Tel Aviv-based Bank Leumi for $750 million. Energean is a London-based hydrocarbon exploration and production company, focused on natural gas. It said the term loan will be available to refinance the 2026 Energean Israel Limited Notes and to provide additional liquidity for the Katlan gas field development, offshore Israel. The loan has a 12 month availability period, during which multiple drawdowns can be made, ‘providing flexibility to optimise finance costs’, the company said. Up to $475 million is available in US dollars and up to $275 million is available in New Israeli Shekel. The loan has a floating interest rate, and is secured on the assets of Energean Israel. It has a bullet repayment in 2035. Chief Financial Officer Panos Benos said: ‘’This term loan demonstrates the confidence in our long-term cash flow generation, underpinned by our gas contracting strategy in Israel. It is another example of our ability to swiftly secure significant liquidity from alternative pools of capital, optimising our financing costs. This term loan strengthens our financial resilience and maximises liquidity for the Katlan development.‘ Shares in Energean were up 0.1% to 1,016.00 pence in London on Monday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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