Faroe is issuing a US$100 mm senior unsecured bond, with a fixed coupon of 8%, payable semi-annually. This will boost the company balance sheet ahead of a period of large investments. At Brasse, the estimated capex is now expected to be in the range of US$500 – 700 mm (previous guidance of US$550 mm for the resources mid case). The company plans to complete the concept selection process in 2018. Oda is on track for first oil in 2019 as planned. The forecast average plateau production is
21 Nov 2017
FLASH: Bond issue and operation update
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
FLASH: Bond issue and operation update
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
21 Nov 2017 -
Author:
Stephane Foucaud -
Pages:
2
Faroe is issuing a US$100 mm senior unsecured bond, with a fixed coupon of 8%, payable semi-annually. This will boost the company balance sheet ahead of a period of large investments. At Brasse, the estimated capex is now expected to be in the range of US$500 – 700 mm (previous guidance of US$550 mm for the resources mid case). The company plans to complete the concept selection process in 2018. Oda is on track for first oil in 2019 as planned. The forecast average plateau production is