Energean takes $700m loan to get Karish gas pumping
Energean, the London-listed oil and gas company, has signed a $700m loan to develop a gas field off the shore of Israel, as the company enters the final stretch in having the field up and running.
JP Morgan and Morgan Stanley are providing the term loan, which was signed on Wednesday.
It has an 18 month maturity and will only be drawn as and when the funding is needed.
It pays 5.75%, rising 0.25% every three months to a maximum of 7%.The term loan will be ...