Harbour Energy plc (“Harbour”)
Pricing of Hybrid Notes Offering
30 April 2025
Harbour is pleased to announce that Wintershall Dea Finance 2 B.V. (the “Issuer”), a subsidiary of Harbour, priced an offering on 29 April 2025 (the “Offering”) of €900 million in aggregate principal amount of perpetual guaranteed subordinated resettable fixed rate notes (the “Notes”). The Notes will bear interest on their principal amount at a rate of 6.117 per cent. per annum until the first reset date.
Harbour intends to use the proceeds from the Offering (i) to finance the purchase of certain of its outstanding €650 million perpetual guaranteed subordinated resettable fixed rate notes issued on 20 January 2021 (ISIN: XS2286041517) (the “Tender Offer”), in each case as validly tendered and accepted for purchase, (ii) at Harbour’s election, for repayment of existing debt and for general corporate purposes and (iii) to pay certain costs, expenses and fees related to the Offering and the Tender Offer.
Consummation of the Tender Offer is subject to the satisfaction or waiver of a number of conditions described in a tender offer memorandum, dated 28 April 2025 (the “Tender Offer Memorandum”). Subject to applicable securities laws and the terms set forth in the Tender Offer Memorandum, the Issuer reserves the right to (i) waive or modify in whole or in part any and all conditions of the Tender Offer, (ii) extend, modify or terminate the Tender Offer or (iii) otherwise amend the Tender Offer in any respect. The Tender Offer is not conditioned on any minimum amount of notes being tendered.
The Offering is expected to close on or about 8 May 2025, subject to customary conditions precedent for similar transactions.
Enquiries
Harbour Energy plc
+44 20 3833 2421
Aleksander Azarnov, SVP Corporate Finance, Marketing and Trading
Mo Farrag, VP Corporate Finance
Elizabeth Brooks, SVP Investor Relations