Genel Energy PLC: Intention to refinance (1130185)
September 11 2020 - 2:00AM
UK Regulatory
Genel Energy PLC (GENL)
Genel Energy PLC: Intention to refinance
11-Sep-2020 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
11 September 2020
Genel Energy plc
Intention to refinance
Genel Energy plc ('Genel' or 'the Company') has engaged Pareto Securities to
organise a roadshow with international credit investors. The Company may,
subject to market conditions and acceptable terms on the new issue, raise a
new five-year bond of up to $300 million to replace the Company's existing
bond maturing in December 2022.
Genel had cash in excess of $350 million at 30 August 2020, and net cash of
$55 million. The Company maintains a positive outlook, a strategy of
maintaining a robust balance sheet through cycles, and is proactively
managing its liquidity runway and debt maturity profile.
-ends-
For further information, please contact:
Pareto Securities +47 22 87 87 71
Fixed income sales
Genel Energy +44 20 7659 5100
Andrew Benbow, Head of Communications
Vigo Communications +44 20 7390 0230
Patrick d'Ancona
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).
The Company is one of the largest London-listed independent hydrocarbon
producers, with an asset portfolio that positions us well for a future of
fewer and better natural resources projects. Genel has low-cost and
low-carbon production from the Taq Taq and Tawke licences in the Kurdistan
Region of Iraq, providing financial resilience that allows investment in
growth and the payment of a material and sustainable dividend, even at a low
oil price. Genel also continues to pursue further growth opportunities. For
further information, please refer to www.genelenergy.com [1].
ISIN: JE00B55Q3P39
Category Code: MSCM
TIDM: GENL
LEI Code: 549300IVCJDWC3LR8F94
Sequence No.: 83914
EQS News ID: 1130185
End of Announcement EQS News Service
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=3ec46b352f38452116096dbbab51b09e&application_id=1130185&site_id=vwd&application_name=news
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