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Energean to issue bonds in four tranches of $625 mln to refinance loans

March 10 (Reuters) - Eastern Mediterranean-focused gas group Energean Plc said on Wednesday its unit will issue the previously announced $2.5 billion worth of bonds in four tranches of $625 million each to refinance existing loans.

The four senior secured notes, each with different fixed annual interest rates, will mature in 2024, 2026, 2028 and 2031.

The funds are expected to repay outstanding debts under Energean’s $1.45 billion project finance facility and a $700 million term loan, replace existing undrawn amounts and fund some reserve accounts. (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Rashmi Aich)

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