Energean’s $450 Million High Yield Bond Offering

White & Case advised Energean on the offering and on the new US$150 million letter of credit facility with ING Bank.

Energean PLC, a London-based leading independent oil and gas company, executed its US$450 million offering of Rule 144A/Reg S high yield senior secured notes.

Energean will use the net proceeds of the offering to refinance certain debt and for general corporate purposes.

J.P. Morgan and ING Bank acted as joint global coordinators and joint bookrunners, BNP Paribas, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley and Natixis as joint bookrunners, and Poalim IBI as co-manager. The senior secured notes are listed on The International Stock Exchange.

Energean is a London-based independent E&P company focused on developing resources in the Mediterranean. Energean is committed to sustainable development and to be a net zero emitter by 2050.

The White & Case team in London that advised on the high yield offering was led by partner Gilles Teerlinck (Picture) and included partners Allan Taylor and Jill Christie, with support from associates Phil Houten, Oriyan Prizant, Adebola Ogunsanya and Iman Algubari. The team in London which advised on the new letter of credit facility was led by partners Martin Forbes and Jason Kerr, with support from associates James Foo, Nicolle Odutoye and Radhika Wason. Italian law advice was provided by partner Iacopo Canino (Milan) and Egyptian law advice was provided by partner Said Hanafi and associate Mahmoud Ezz (both Cairo). Tax support was provided by partners Chad McCormick (Houston) and Laura Hoyland (London) and associates Neil Clausen (Houston) and Peter North (London).

Involved fees earner: Iman Algubari – White & Case; Iacopo Canino – White & Case; Jill Christie – White & Case; Neil Clausen – White & Case; Mahmoud Ezz – White & Case; James Foo – White & Case; Martin Forbes – White & Case; Said Hanafi – White & Case; Philip Houten – White & Case; Laura Hoyland – White & Case; Jason Kerr – White & Case; Chad McCormick – White & Case; Peter North – White & Case; Nicolle Odutoye – White & Case; Adebola Ogunsanya – White & Case; Allan Taylor – White & Case; Gilles Teerlinck – White & Case; Radhika Wason – White & Case;

Law Firms: White & Case;

Clients: Energean Oil & Gas;