Energean Israel holds roadshow for $2.5 billion four-part offering

Chicago, March 4 – Energean plc with Energean Israel Finance Ltd. is conducting a roadshow for a four-part offering of $2.5 billion of senior secured notes (Ba3/BB-), according to an announcement.

The notes will have maturities in 2024, 2026, 2028 and 2031.

Proceeds from the offering will be used to repay outstanding debt under the company’s and its subsidiaries’ $1.45 billion project finance facility and a $700 million term loan.

Proceeds will also be used to replace existing undrawn amounts under those facilities.

Certain reserve accounts will be funded out of the offering and proceeds may also be used for general corporate purposes.

The Rule 144A and Regulation S notes are expected to be listed on the TACT Institutional of the Tel Aviv Stock Exchange Ltd.

Energean is the leading independent, gas-focused E&P company in the Eastern Mediterranean, based in London.

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