Genel Energy

Net Asset Value • Sep 11, 2020

National Storage Mechanism | Additional information

Genel Energy PLC (GENL)

Genel Energy PLC: Intention to refinance

11-Sep-2020 / 07:00 GMT/BST

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.

The issuer is solely responsible for the content of this announcement.

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11 September 2020

Genel Energy plc

Intention to refinance

Genel Energy plc ('Genel' or 'the Company') has engaged Pareto Securities to organise a roadshow with international credit investors. The Company may, subject to market conditions and acceptable terms on the new issue, raise a new five-year bond of up to $300 million to replace the Company's existing bond maturing in December 2022.

Genel had cash in excess of $350 million at 30 August 2020, and net cash of $55 million. The Company maintains a positive outlook, a strategy of maintaining a robust balance sheet through cycles, and is proactively managing its liquidity runway and debt maturity profile.

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For further information, please contact:

Pareto Securities Fixed income sales	+47 22 87 87 71
Genel Energy Andrew Benbow, Head of Communications	+44 20 7659 5100
Vigo Communications Patrick d'Ancona	+44 20 7390 0230

This announcement includes inside information.

Disclaimer:

This announcement does not constitute an offer to sell or a solicitation of an offer to buy any securities, or an offer to sell or a solicitation of an offer to buy any securities, in any jurisdiction to any person to whom it is unlawful to make such an offer or solicitation in such jurisdiction.

This announcement is not for general publication, release or distribution in the United States or in any jurisdiction where such distribution or use would be contrary to local law or regulation or would require any registration or licensing within such jurisdiction.

Notes to editors:

Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production from the Taq Taq and Tawke licences in the Kurdistan Region of Iraq, providing financial resilience that allows investment in growth and the payment of a material and sustainable dividend, even at a low oil price. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.

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ISIN:	JE00B55Q3P39
Category Code:	MSCM
TIDM:	GENL
LEI Code:	549300IVCJDWC3LR8F94
Sequence No.:	83914
EQS News ID:	1130185

End of Announcement	EQS News Service

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