Business
Pricing of Senior Secured Notes
Pricing of Senior Secured Notes.
About this update from Energean Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0186S\n Energean PLC\n 11 November 2021\n \n \n \n \n \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 \n \n Energean PLC \n \n \n announces\n \n \n \n pricing of its offering of US$450,000,000 senior secured notes \n \n \n \n \n \n \n \n London, 11 November 2021\n \n \n Energean PLC (\"Energean\")\n \n (LSE: ENOG, TASE: \n \n א\n \n ) is pleased to announce that it has priced the offering (the \"Offering\") of US$450 million aggregate principal amount of senior secured notes due 2027, with a fixed annual interest rate of 6 ½% (the \"Notes\").\n \n \n The interest on the Notes will be paid semi-annually, on \n April 30 \n and \n October 30 of each year, beginning \n on \n April 30, 2022\n .\n \n \n The proceeds from the Offering are expected to be used:\n \n \n · \n to 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 \n · \n to pay fees and other expenses related to the Offering; and \n \n \n · \n for general corporate purposes\n \n \n The issuance of the Notes is expected to be completed on November 18, 2021. \n \n \n The Notes are expected to be listed for trading on the Official List of The International Stock Exchange (\"TISE\"), subject to the approval of TISE.\n \n \n The 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\"), or (b) outside the United States in reliance on Regulation S of the Securities Act. \n \n \n Enquiries\n \n \n \n \n \n \n Kate Sloan, Head of IR, ECM and Communi...