Ithaca Energy plc (ITH.L) on Wednesday announced that its subsidiary, Ithaca Energy (UK) Limited, has secured lender commitments to exercise the accordion option under its reserves-based lending (RBL) facility, raising Facility A's total loan limit from $1 billion to $1.3 billion. The company also said that its unit, Ithaca Energy (North Sea) plc, has priced its 450 million euros offering of 5.5% senior notes due 2031.
The gross proceeds from the offering of the notes will be used to fund the Cygnus acquisition; for general corporate purposes such as repaying debts and replenishing cash used for the Japex M&A; and to pay transaction fees, expenses, and other costs.
A subsidiary of Ithaca Energy has entered into a currency swap for the notes offering, resulting in an effective all-in interest rate of approximately 6.7% in US dollars.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.