Energean says bond issue proceeds released from escrow

Fri, 30th Apr 2021 10:13

(Alliance News) - Energean PLC on Friday said USD2.50 billion worth of proceeds from a notes issue have been released from an escrow account.

In March, the exploration and production company said completed the sale of USD2.50 billion of bonds. The offering was made up of bonds due in 2024, 2026, 2028 and 2031, priced between 4.500% and 5.875%.

The company on Friday said its unit Energean Israel Finance Ltd satisfied escrow release conditions, meaning proceeds have been released.

Energean shares were 1.5% higher at 839.50 pence each in London on Friday morning.

By Eric Cunha; ericcunha@alliancenews.com

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