REG-Genel Energy PLC Genel Energy PLC: Successful placement of new unsecured bonds

Genel EnergyAnnouncement

26/03/2025 14:30

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   Genel Energy PLC (GENL)
   Genel Energy PLC: Successful placement of new unsecured bonds

   26-March-2025 / 14:24 GMT/BST

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   26 March 2025

                                        

                                Genel Energy plc

                                        

                  Successful placement of new unsecured bonds

    

   Genel Energy  Plc ('Genel'  or ‘the  Company’) has  completed the  private
   placement of USD 100 million of new five-year senior unsecured bonds  with
   a coupon  rate of  11 percent  per annum.  The bond  placement met  strong
   investor demand across international  markets and was  subscribed to by  a
   wide range of high-quality investors.

    

   Settlement of the  bond issue is  expected to  occur on or  about 9  April
   2025, subject to  customary conditions precedent.  An application will  be
   made for the bonds  to be listed  on the Nordic  ABM market and  Frankfurt
   Open Market. Net  proceeds from the  new bond issue  will be used  towards
   refinancing of  the  existing unsecured  bond  (ISIN: NO  0010894330)  and
   general corporate purposes.

    

   In connection with the bond placement, the Company has agreed to  buy-back
   existing unsecured  bonds and  intends  to issue  a  call notice  for  the
   remaining bonds at 100 percent of par in connection with settlement of the
   new bond.

    

   Pareto Securities AS acted as Manager and Bookrunner for the bond issue.

    

                                     -ends-

    

   For further information, please contact:

    

   Genel Energy
                 +44 20 7659 5100
   Luke Clements
                  
                  

   This announcement includes inside information.

    

   Disclaimer:

   This announcement does not constitute an  offer to sell or a  solicitation
   of an offer to buy any securities,  or an offer to sell or a  solicitation
   of an offer to buy  any securities, in any  jurisdiction to any person  to
   whom it  is  unlawful  to make  such  an  offer or  solicitation  in  such
   jurisdiction.

    

   This announcement is not for general publication, release or  distribution
   in the United States or in any jurisdiction where such distribution or use
   would be  contrary  to  local  law or  regulation  or  would  require  any
   registration or licensing within such jurisdiction.

    

   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).  For   further   information,   please   refer   to
    1 www.genelenergy.com.

    

    

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   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           JE00B55Q3P39, NO0010894330
   Category Code:  MSCH
   TIDM:           GENL
   LEI Code:       549300IVCJDWC3LR8F94
   OAM Categories: 2.2. Inside information
   Sequence No.:   380253
   EQS News ID:    2106848


    
   End of Announcement EQS News Service

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References

   Visible links
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