Pricing of Senior Notes Offering and Upsize of RBL Facility
Ithaca Energy plc is pleased to announce that its wholly owned subsidiary Ithaca Energy (UK) Limited has secured commitments to exercise the accordion mechanism provided under its reserves based lending facility, which will increase the aggregate commitments under facility A from $1,000 million to $1,300 million, and that its wholly owned subsidiary Ithaca Energy (North Sea) plc has priced its offering of an aggregate principal amount of €450,000,000 of 5.500% senior notes due 2031 (the “Notes”) at par, with interest payable semi-annually.
A subsidiary of Ithaca Energy has entered into a currency swap in connection with the offering of the Notes, which will result in an all-in effective interest rate on the Notes, in USD, of approximately 6.7%.
