Energean International’s $2.5 Billion Bonds Offering

Yigal Arnon and Simpson Thacher advised the underwriters in the offering. White & Case LLP advised Energean Israel Finance Ltd.

Energean International completed an offering of $2.5 billion worth of bonds to refinance existing loans. The offering consisted of four tranches (3 year, 5 year, 7 year and 10 year) of Senior Secured Notes by Energean Israel Finance Ltd. (“Energean”), a special purpose financing vehicle of Energean Israel Limited (the “Sponsor”) and indirectly owned by Energean plc.

JP Morgan Chase and Morgan Stanley acted as underwriters on the deal. BNP Paribas, Credit Suisse, ING, and Natixis acted as joint bookrunners; and Pareto Securities and Poalim IBI, as co-managers.

The Sponsor is a Cypriot company established with the objective of exploration, production and commercialization of natural gas and hydrocarbon liquids and its main activities are performed in Israel by its Israeli branch. The Sponsor is indirectly owned by Energean plc, a London-based leading independent oil and gas company focused on the exploration, development and production of natural gas and hydrocarbon liquids in the Mediterranean and the UK North Sea.

The Yigal Arnon team included Advs. Simon Weintraub (Picture), Avi Anouchi, together with Shiri Shaham, Ofir Levy, Shai Margalit, Roni Osborne, Ofir Paz, Idan Adar, Zahava Moerdler, interns Dana Kleiman and Samuel Kuperstok.

The Simpson Thacher team for the transaction included Gil Strauss, Srishti Gupta and Eilidh Reid (Capital Markets); Meredith Jones and Gal Shemer (Tax); and Jeanne Annarumma (ERISA).

White & Case LLP advised Energean Israel Finance Ltd., a finance subsidiary of Energean PLC, with a team led by partner Gilles Teerlinck and included partners Jill Concannon and Allan Taylor with support from associates Anna Soroka and Kelly Trueman. The London team which advised on the project financing was led by partner Tom Bartlett with support from associates Radhika Wason and Sara Nehring.

Involved fees earner: Jeanne Annarumma – Simpson Thacher & Bartlett; Srishti Gupta – Simpson Thacher & Bartlett; Meredith Jones – Simpson Thacher & Bartlett; Eilidh Reid – Simpson Thacher & Bartlett; Gal Shemer – Simpson Thacher & Bartlett; Gil Strauss – Simpson Thacher & Bartlett; Tom Bartlett – White & Case; Jill Concannon – White & Case; Sara Nehring – White & Case; Anna Soroka – White & Case; Allan Taylor – White & Case; Gilles Teerlinck – White & Case; Kelly Trueman – White & Case; Radhika Wason – White & Case; Idan Adar – Yigal Arnon & Co; Avi Anouchi – Yigal Arnon & Co; Ofir Levy – Yigal Arnon & Co; Shai Margalit – Yigal Arnon & Co; Zahava Moerdler – Yigal Arnon & Co; Roni Osborne – Yigal Arnon & Co; Ofir Paz – Yigal Arnon & Co; Shiri Shaham – Yigal Arnon & Co; Simon Weintraub – Yigal Arnon & Co;

Law Firms: Simpson Thacher & Bartlett; White & Case; Yigal Arnon & Co;

Clients: Energean Israel Finance; IBI Investment House; JP Morgan Chase & Co.; Morgan Stanley;

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