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. The Company 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