Latham Advises Energean Israel on Upsized US$750 Million Senior Secured Notes Offering

Latham & Watkins has advised Energean Israel, a leading independent gas-focused E&I company, on its offer of US$750 million aggregate principal amount of senior secured notes, expected to mature in 2033. The net proceeds from the offering will be used to repay in full the US$625 million 4.500% Senior Secured Notes due 2024, to pay cash into a reserve account, in connection with investments in the petroleum rights of Energean Israel, and to pay fees and expenses in connection with the transaction as well as accrued interest on the Senior Secured Notes due 2024.

The issuer’s parent, Energean PLC is publicly listed on both the London and Tel Aviv stock exchanges.

The Latham team was led by London corporate partners Jennifer Engelhardt and Matthew Schneider, with associates Izabela Prager and Johanna Selberg.