Business
Launch of US$650m Senior Secured Notes Offering
Launch of US$650m Senior Secured Notes Offering.
About this update from Energean Plc
[{"type":"text","content":"\n\n \n \nTHIS 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, THAT ARE QUALIFIED PURCHASERS (AS DEFINED IN SECTION 2(a)(51) OF THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED)), CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL.\n \nEnergean PLC announces the launch of an offering of US$650,000,000 senior secured notes by its subsidiary, Energean Israel Finance Ltd.\n \nJune 18, 2023\n \nEnergean PLC (\"Energean\") (LSE: ENOG, TASE: אנאג) is pleased to announce that its subsidiary, Energean Israel Finance Ltd. intends to offer US$650 million aggregate principal amount of senior secured notes, which are expected to mature in 2033 (the \"Notes\"). The net proceeds from the proposed offering of the Notes (the \"Offering\") are expected to be used to repay in full the US$625,000,000 4.500% Senior Secured Notes due 2024, and to pay the discounts, fees and certain expenses related to the Offering.\nThe Notes may not be offered or sold in the United States without registration or pursuant to an exemption therefrom. The Notes will be offered to (a) qualified institutional buyers in the United States pursuant to Rule 144A of the United States Securities Act 1933, as amended (the \"Securities Act\") that are qualified purchasers (as defined in section 2(a)(51) of the Investment Company Act of 1940, as amended (the \"Investment Company Act\")), or (b) outside the United States in reliance on Regulation S of the Securities Act.\nIf issued, the Notes are expected to be listed for trading on the TASE-UP of the Tel Aviv Stock Exchange Ltd. (the \"TASE\"), subject to the approval of the TASE.\nThe 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 this announcement will serve to create any type of commitment whatsoever on the part of Energean, Energean Israel Limited and their respective subsidiaries (the \"Group\") to carry out the Offering, and does not constitute a public offering, a tender ...