Energean prices debt sale

(Sharecast News) - Energean announced a deal to roll over part of its debt. Acting through its subsidiary Energean Israel Finance, the oil explorer priced an issue of $750m of debt maturing in 2033 and paying an interest of 8.5%.

The proceeds from the sale, which was expected to complete on or around 11 July, would be used to redeem the $625m of 4.5% senior secured notes coming due in 2024, payment of the final deferred consideration of Kerogen and funding the interest payment reserve account.