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by Stephen Carter
Oct 29, 2025 10:52 AM ET
+++Corrects size in headline: $400m (not $450m. The size has always been $400m)+++
Energean plc (ENOGLN) EUR400mm 144A/Reg S senior secured notes due 2031 (5.5y). NC2 (MWC B+50bp) (50%,25%,par). Equity claw: 2y 40%. Special call: 10% per year the first 2 years at 103. NR/BB-/BB (--/stable/stable). Via JPM (B&D)/MS/GS jt physical and active books/ING/Natixis/Eurobank/IBI jt books. No reg rights. List ISE NY law. CoC at 101. Denoms: 100kx1k. IPT: 6.25% area. Price talk: 5.875% area.
Launched: at 5.625%.
Did investor calls 10/27-28 (investor call 10:30am UKT 10/27). Books closed at 2:30pm UKT 10/29. Reconfirms due by 3pm UKT 10/29. Pricing 10/29 UK afternoon. UOP: refinance Energean’s existing US$450m 6.50% sr notes due 04/30/27 (callable at 100), and EUR9m cash to the B/S. Biz: a European oil and gas E&P company. HQ: London, UK.
Netroadshow link: https://www.netroadshow.com/events/login/LE9zwo49B5iTnq7M52mN102D6i7TfrTAFDl