GENEL ENERGY (LON:GENL) Genel Energy PLC: Successful completion of bond issuance
Transparency directive : regulatory news
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Genel Energy PLC (GENL)
25 September 2020
Genel Energy plc
Successful completion of bond issuance
Genel Energy plc ('Genel' or 'the Company') has successfully completed the issuance of a new $300 million senior unsecured bond with maturity in October 2025. The new bond will have a fixed coupon of 9.25% per annum. The transaction is subject to customary closing conditions and settlement is expected to occur on or about 14 October 2020.
In connection with the issue, the Company has agreed to repurchase $223 million of its existing $300 million senior unsecured bond issue with ISIN NO 001071088.2 and maturity date in December 2022 ('GENEL01 PRO'). Genel has the option to call the outstanding bond amount in December 2020 at a price equal to 105% of the nominal amount.
Pareto Securities acted as bookrunner and manager for the bond issue.
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Notes to editors:
Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production from the Taq Taq and Tawke licences in the Kurdistan Region of Iraq, providing financial resilience that allows investment in growth and the payment of a material and sustainable dividend, even at a low oil price. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.
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| ISIN: | JE00B55Q3P39 |
| Category Code: | MSCM |
| TIDM: | GENL |
| LEI Code: | 549300IVCJDWC3LR8F94 |
| Sequence No.: | 84848 |
| EQS News ID: | 1136533 |
| End of Announcement | EQS News Service |
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