Energean Prices $2.5bn Bond Offering
Mar 10, 2021 8:05:am
Summary
by: Joe Murphy
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Energean Prices $2.5bn Bond Offering
Mediterranean-focused producer Energean has priced the $2.5bn in senior notes it plans to offer to pay down existing debts, the company reported in a stock filing on March 10.
The notes will be offered in four $625mn series. The first series matures on March 30, 2024, and carries a fixed annual interest rate of 4.5%, the second matures on March 30, 2026, and has a rate of 4.875%, the third matures on March 30, 2028, and has a 5.375% rate and the final one matures on March 30, 2031, and has a 5.875% rate. Interest on the notes will be paid twice a year on March 30 and September 30.
Energean Plans $2.5bn Senior Debt Offering
Mar 1, 2021 8:40:am
Summary
by: Joe Murphy
Posted in:
Energean Plans $2.5bn Senior Debt Offering
Mediterranean-focused producer Energean plans to offer $2.5bn in senior notes to settle existing debts, it said on February 28.
The notes will be offered in four tranches and will mature in 2024, 2026, 2028 and 2031. The funds raised will be used to repay a $1.45bn outstanding project finance facility and a $700mn term loan, among other purposes, the company said in a London stock exchange filing.
Energean recently took final investment decisions on two new upstream projects: the Karish North gas field off Israel and a subsea tieback project at the North El Amriya (NEA) and North Idkunea (NI) concession offshore Egypt.