(Alliance News) - Energean PLC on Wednesday said it completed the sale of USD2.50 billion of bonds.
The offering is made up of bonds due in 2024, 2026, 2028 and 2031, priced between 4.500% and 5.875%, according to a statement earlier in March.
The funds will be used to repay outstanding debts, replace existing undrawn amounts, fund certain reserve accounts, and for transaction expenses and general corporate purposes, Energean said. The company recently bought out a minority investor in its Israel subsidiary for up to USD405 million.
Shares in Energean, a London-based exploration and production company, were up 1.6% to 908.60 pence in London.
By Ivan Edwards; ivanedwards@alliancenews.com
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Energean Oil & Gas (ENOG)