EM-focused Energean offers $400 million senior secured notes due 2027

By Marisa Wong

Los Angeles, Nov. 4 – Energean plc said it launched a $400 million offering of senior secured notes due 2027 (B/B+).

The company intends to hold a global roadshow with institutional investors in connection with the offering, according to a press release.

The offering is subject to market conditions.

Energean intends to use proceeds to repay all amounts outstanding and cancel all commitments made available under some of its existing debt facilities, being 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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