Palantir to report; Trump on Nvidia chip exports - what’s moving markets
LONDON - Energean plc (LSE:ENOG, TASE: ENOG) announced Monday the launch of a €400 million senior secured notes offering due 2031, as the energy company seeks to refinance existing debt.
The company plans to use proceeds from the offering to redeem all of its outstanding 6.50% senior notes due 2027, fund cash on its balance sheet, and pay related fees and expenses, according to a press release statement.
The offering is subject to market conditions, with no guarantee of completion. Energean indicated it will announce pricing details prior to completion if the offering reaches that stage.
The company’s management team plans to hold a global roadshow with institutional investors in connection with the offering.
The notes will be offered only to qualified institutional buyers in the United States under Rule 144A of the Securities Act and to non-U.S. persons outside the United States in reliance on Regulation S.
Energean operates primarily in the Mediterranean and North Africa regions, focusing on natural gas production and development. The company is listed on both the London Stock Exchange and the Tel Aviv Stock Exchange.
The refinancing move comes as energy companies continue to manage their debt structures amid evolving market conditions in the global energy sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.