Stabilisation Notice

Morgan Stanley & Co. Int'l plc

11 October 2024

 

11 October 2024

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

Ithaca Energy (North Sea) plc

Post-stabilisation Period Announcement

Further to the pre-stabilisation period announcement dated 10 October 2024, MORGAN STANLEY & CO. INTERNATIONAL PLC (contact: Joseph Bishay; telephone: [phone]) hereby gives notice, that no stabilisation (within the meaning of Article 3.2(d) of the EU Market Abuse Regulation (596/2014), including as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018) was undertaken by the Stabilisation Manager(s) named below in relation to the offer of the following securities.

Securities

Issuer:	Ithaca Energy (North Sea) plc
Guarantor(s) (if any):	The Notes will be guaranteed on the Issue Date on a senior basis by Ithaca Energy (E&P) Limited (the "Parent Guarantor"). On the Issue Date, the Notes will be guaranteed on a senior subordinated basis by Ithaca GSA Limited, Ithaca GSA Holdings Limited, Ithaca Energy (UK) Limited, Ithaca Oil and Gas Limited, Ithaca MA Limited, Ithaca SP (Holdings) Limited, Ithaca SP Finance Limited, Ithaca SPE Limited, Ithaca SP O&G Limited and Ithaca SP E&P Limited (collectively, the "Initial Subordinated Guarantors"). No later than the earlier of (i) the date Eni Elgin Franklin, Eni Energy E&P, Eni UKCS Limited and Eni Energy E&P UKCS Limited accede as Guarantors under the RBL Facility and (ii) 90 days following the Issue Date, the Notes will be guaranteed on a senior subordinated basis (the "Post-Closing Subordinated Note Guarantees") by Eni Elgin Franklin and Eni Energy E&P, Eni UKCS Limited and Eni Energy E&P UKCS Limited  (collectively, the "Post-Closing Subordinated Guarantors" and, together with the Initial Subordinated Guarantors, the "Subordinated Guarantors").
Aggregate nominal amount:	USD 750 MM
Description:	Senior Notes due 2029
ISIN:	RegS: USG49774AC90 144a: US46567TAC80
Offer price:	100%

Stabilisation

Stabilisation Manager:

MORGAN STANLEY & CO. INTERNATIONAL PLC

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement is not an offer of securities for sale into the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States.

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