Energean’s $400 million taps nine bookrunners for notes due 2027

By Rebecca Melvin

Concord, N.H., Nov. 10 – Energean plc’s planned $400 million offering of senior secured notes due 2027 (B/B+) is being priced via nine bookrunners, according to a pre-stabilization notice on Wednesday.

The bookrunners include J.P. Morgan Securities plc, ING, BNP, Credit Suisse, Deutsche Bank, Goldman Sachs International, Morgan Stanley, Natixis and Poalim IBI.

The notes are non-callable for two years.

As previously reported, Energean intends to use proceeds to repay and cancel all commitments made available under some of its existing debt facilities, including the Egypt reserve-based lending facility and the Greek reserve-based lending facility plus subordinated debt. Proceeds will also be used to pay fees and expenses related to the new notes and for general corporate purposes.

Energean is a London-based hydrocarbon exploration and production company focused on the Eastern Mediterranean region.

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