Genel Energy Exercises Bond Call Option

Genel Energy plc has announced the exercise of a bond call option amounting to $75 million. The call pertains to bonds with ISIN NO0010894330, set to mature in October 2025. The bonds carry a fixed annual coupon rate of 9.25%, and the call will be executed at a price of 101.85% of the nominal amount.

Initially, Genel Energy had $300 million in outstanding bonds. Following this transaction, $225 million will remain, with the company canceling its held bonds, reducing the outstanding amount to $66 million. The settlement date is scheduled for 30 October 2024, with the record date two days prior, on 28 October 2024.