Business
$400m senior secured notes offering
$400m senior secured notes offering.
About this update from Energean Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3950R\n Energean PLC\n 04 November 2021\n \n \n \n \n \n THIS ANNOUNCEMENT IS NOT BEING MADE IN, AND COPIES OF IT MAY NOT BE DISTRIBUTED OR SENT, DIRECTLY OR INDIRECTLY, INTO THE UNITED STATES (EXCEPT THAT IT MAY BE SENT IN THE UNITED STATES DIRECTLY TO QUALIFIED INSTITUTIONAL BUYERS, AS DEFINED IN RULE 144A UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED), CANADA, JAPAN, THE UNITED KINGDOM, UNITED ARAB EMIRATES, RUSSIA, SINGAPORE OR AUSTRALIA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL.\n \n \n \n \n Energean PLC announces the launch of an offering of US$400,000,000 senior secured notes \n \n \n \n \n London, 4 November 2021\n Energean Plc (\"Energean\") (LSE: ENOG, TASE: א) and together with its consolidated subsidiaries, the \"Group\") is pleased to announce that it has launched an offering (the \"Offering\") of US$400,000,000 in aggregate principal amount of senior secured notes due 2027 (the \"Notes\"). Energean intends to use the gross proceeds from the Offering to:\n \n · repay all amounts outstanding under, and cancel all commitments made available pursuant to certain of its existing debt facilities, being the Egypt reserve based lending facility and the Greek reserve based lending facility plus subordinated debt;\n \n · pay fees and other expenses related to the Offering; and\n \n · for general corporate purposes.\n The Group will announce the pricing of the Offering prior to its completion, if the Offering reaches the pricing stage. The management of the Group intends to hold a global roadshow with institutional investors in connection with the Offering.\n The Notes will be offered subject to prevailing market and other conditions. There is no assurance that the Offering will be completed or, if completed, as to the terms on which it is completed. Nothing in the announcement will serve to create any type of commitment whatsoever on the part of the Group to carry out the Offering and does not constitute a public offering, a tender or other offer of any kind, or solicitation to purchase securities of Energean.\n Enquiries\n \n Kate Sloan, Head of IR, ECM and Communications Tel: +44 (0)7917 608 645\n \n \n \n \n \n \n \n \n Forward-looking statements\n This press release may include forward-looking statements. These fo...