Genel Energy PLC: Successful tap issue of bonds

Summary by AI BETAClose X

Genel Energy plc announced a successful tap issue of USD 65 million in additional bonds under its existing senior unsecured bonds framework, placed at 104.0% of nominal amount with strong investor interest for general corporate purposes. These tap bonds, initially issued with a temporary ISIN, can be redeemed by February 1, 2027, at 104.5% of nominal value plus accrued interest. If the net proceeds are drawn from escrow, the tap bonds will merge with the existing series, increasing the total outstanding amount to USD 200 million.

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