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White & Case Advises Energean PLC on its US$450 Million High Yield Bond Offering

Global law firm White & Case LLP has advised Energean PLC, a London-based leading independent oil and gas company, on 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 expected to be listed on The International Stock Exchange.

The White & Case team also advised on Energean's new US$150 million letter of credit facility with ING Bank.

White & Case previously advised Energean Israel Finance Ltd, a finance subsidiary of Energean PLC, on its US$2.5 billion offering of Rule 144A/Reg S high yield senior secured notes in March 2021.

The White & Case team in London that advised on the high yield offering was led by partner Gilles Teerlinck 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).

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