Karoon Energy Ltd's proposed offering of Second-Priority Senior Secured Notes

Karoon Energy Limited (ASX: $KAR) has announced that its subsidiary, Karoon USA Finance Inc, plans to offer an aggregate principal amount of US$400 million of Second-Priority Senior Secured Notes. The Notes will be guaranteed by Karoon and certain wholly-owned subsidiaries of Karoon. The net proceeds from the proposed offer will be utilized for the repayment of drawn amounts under its reserve-based lending facility and general corporate purposes.

Executive Commentary on Proposed Offering

We are pleased to announce the proposed offering of Second-Priority Senior Secured Notes by our subsidiary, Karoon USA Finance Inc. This offering, subject to market conditions, will provide us with the necessary funds to repay drawn amounts under our reserve-based lending facility and support our general corporate purposes. We believe this strategic move will contribute to our ongoing commitment to providing energy safely, reliably, and responsibly, creating lasting benefits for all our stakeholders.

Summary of Karoon Energy Ltd's Proposed Offering

Karoon Energy Ltd (ASX: $KAR) has announced the proposed offering of US$400 million Second-Priority Senior Secured Notes by its subsidiary, Karoon USA Finance Inc. The net proceeds from the offering will be utilized for the repayment of drawn amounts under its reserve-based lending facility and general corporate purposes. This strategic move aligns with Karoon's vision to be a leading, independent international energy company and its purpose to provide energy safely, reliably, and responsibly, creating lasting benefits for all its stakeholders.