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LONDON - Energy company Energean PLC announced Wednesday it will offer EUR 400 million in senior secured notes, with J.P. Morgan Securities PLC acting as stabilization coordinator alongside several other financial institutions as stabilization managers.
The 5.5-year fixed-rate notes will be non-callable for two years and will be listed on The International Stock Exchange, according to a company press release. The notes will be offered in denominations of EUR 100,000 with increments of EUR 1,000.
The stabilization period is expected to begin October 29, 2025, and end no later than November 29, 2025. During this time, stabilization managers may over-allot securities by up to 5% of the aggregate nominal amount to support the market price.
J.P. Morgan Securities PLC will lead the stabilization efforts alongside Morgan Stanley, Goldman Sachs Bank Europe SE, ING, Natixis, Eurobank, and IBI as stabilization managers.
The securities have not been registered under the United States Securities Act of 1933 and will not be offered in the United States. The offering is primarily directed at qualified investors outside the United Kingdom or those within the UK who have professional experience in investment matters.
The announcement indicates that any stabilization action may cease at any time during the stabilization period and is not guaranteed to occur. The offer price for the notes has not yet been determined.
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