– Energean mentioned on Monday its unit would provide $2.5 billion price of bonds to refinance current loans, because the Jap Mediterranean fuel group seems to be to shore up funds in the course of the well being disaster.

The London-listed firm mentioned the senior secured notes providing was but to be priced and it was anticipating to supply notes with 4 completely different maturities, following a overview of choices to refinance its debt.

Energean mentioned in January supply of the primary fuel from its Israeli fields may slip by two to 3 months because of the COVID-19 pandemic as oil and fuel demand has been hit. The undertaking was anticipated to be operational on the finish of this yr. (Reporting by Pushkala Aripaka in Bengaluru; Modifying by Anil D’Silva)