Business
Genel Energy PLC: Announcement of bond buy-ba...
Genel Energy PLC: Announcement of bond buy-ba....
About this update from Genel Energy Plc
[{"type":"text","content":"\n \n \n \n\n\t\n\n\n\n\n\n\n\n\n\n\n\nGenel Energy PLC (GENL)\n\n\n\n\n\n\nGenel Energy PLC: Announcement of bond buy-back offer to bondholders 06-Aug-2024 / 07:21 GMT/BST\n\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA OR TO ANY U.S. PERSON, OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.\n\n \n\n \n\n \n\n \n\n6 August 2024\n\n \n\nGenel Energy plc\n\n \n\nAnnouncement of bond buy-back offer to bondholders\n\n \n\nGenel Energy Holding Company Limited (the ‘Company’) is hereby announcing a reverse tender offer (the ‘Buy-Back Offer’) to holders of Genel Energy 4 Finance plc’s (the ‘Issuer’) USD 300 million senior unsecured callable bonds with ISIN NO0010894330 (the ‘Bonds’). All bondholders, subject to legal constraints, are invited to offer Bonds to the Company, being the sole shareholder of the Issuer and guarantor of the Bonds. The Company intends to select one price (the ‘Maximum Accepted Price’) and buy Bonds offered at and below this Maximum Accepted Price at the price offered by each bondholder.\n\n \n\nThe Company is targeting around USD 25 million or more in nominal value of Bonds for cash management purposes. The Company retains the full discretion to adjust the buy-back volume.\n\n \n\nThe Buy-Back Offer will commence at 0900 CET on Tuesday 6 August, 2024 and will expire at 1500 CET on Tuesday 20 August, 2024. Prior to 0900 CET on Wednesday 21 August, 2024, the Company will determine the Maximum Accepted Price and consequently the total amount of Bonds to be purchased. The Company may, in its sole discretion, waive, amend, extend, accelerate, terminate or withdraw the Buy-Back Offer at any time. Information regarding any such amendments will be published under the Issuer’s ticker on www.newsweb.no, the information service of the Oslo Stock Exchange, and www.stamdata.no, the information service of the bond trustee for the Bonds, Nordic Trustee AS. Cash settlement for the Bonds, including accrued interest, is expected to occur on Friday 23 August 2024.\n\n \n\nThe Company will only accept offers from a bondholder or beneficial owne...