Energean prices debt sale
Energean
850.50p
17:15 20/09/24
-4.44%
-39.50p
Energean announced a deal to roll over part of its debt.
FTSE 250
20,831.84
16:39 20/09/24
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FTSE 350
4,543.89
16:49 20/09/24
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FTSE All-Share
4,501.08
17:04 20/09/24
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Oil & Gas Producers
8,201.89
16:49 20/09/24
-1.49%
-123.87
Acting through its subsidiary Energean Israel Finance, the oil explorer priced an issue of $750m of debt maturing in 2033 and paying an interest of 8.5%.
The proceeds from the sale, which was expected to complete on or around 11 July, would be used to redeem the $625m of 4.5% senior secured notes coming due in 2024, payment of the final deferred consideration of Kerogen and funding the interest payment reserve account.