Genel Energy places $230 million bonds due 2019

By Lisa Kerner

Charlotte, N.C., March 26 – Genel Energy plc priced $230 million of senior bonds due May 14, 2019.

Proceeds will be used “to underpin Genel’s financial strength” and provide flexibility to implement the company’s refocused Kurdistan Region of Iraq strategy, according to a company news release.

The bonds were issued under the same commercial terms as the company’s existing Genel01 Pro $500 million bond.

Fosun Group was a lead investor in the bond issue, and Pareto Securities has acted as manager.

Settlement is expected on April 9.

Genel Energy is a London-based oil and natural gas exploration and production company.

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