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Zenith Energy announces issue of euro medium term notes

By Josh White

Date: Monday 20 Jan 2020

Zenith Energy announces issue of euro medium term notes

(Sharecast News) - Oil and gas production company Zenith Energy announced the upcoming issue of unsecured, multi-currency euro medium term notes at par value on Monday.

The London-listed firm said the issue would consist of €1m bearing an interest of 10.125% per year, and £1m bearing an interest of 10.5% per year.

It would also contain $1m bearing an interest of 10.375% per year, and CHF 1m bearing an interest of 10% per year.

The company said the subscription period would begin on 21 January, with the intended issue date being 27 January.

"The notes will be issued under Zenith's €25m multi-currency euro medium term notes programme, as announced by the company on 6 November 2019, and will be due on 27 January 2024," the Zenith board said in its statement.

It confirmed the notes would be admitted to trading on the third market of the Vienna Stock Exchange.

"The issue of the notes is aligned with the company's strategy of diversifying its financing towards non-equity dilutive funding to support its successful development."

At 1158 GMT, shares in Zenith Energy were down 5.88% at 2p in London.

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