Genel Energy considers new Bond Issue

By John Lee.

Genel Energy 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. Acdording to a company statesment, it "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".

(Source: Genel Energy)

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