Ithaca Energy PLC (GB:ITH) has released an update.
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Ithaca Energy PLC has announced a strategic refinancing move following its major business combination with Eni S.p.A.’s UK upstream oil and gas assets, issuing $700 million in senior notes and securing $1,235 million in commitments for amended lending facilities. The proceeds will be utilized to redeem existing high-interest debt, reinforce liquidity, and support growth opportunities. This financial restructuring aligns with the company’s growth trajectory and commitment to enhancing shareholder value and UK energy security.
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