Independent Oil & Gas (IOG LN) has announced a corporate and funding update which includes the announcement of a new £10m convertible loan facility with London Oil & Gas (LOG). The loan, subject to shareholder approval, may be converted at a price of 19p with interest on funds drawn down charged at LIBOR +9%. The new facility is secured against all of the current and future assets of the company. Principal and interest is repayable 36 months after drawdown of the relevant tranch
21 Feb 2018
VSA Morning Flow Test
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VSA Morning Flow Test
- Published:
21 Feb 2018 -
Author:
Oliver O’Donnell -
Pages:
3
Independent Oil & Gas (IOG LN) has announced a corporate and funding update which includes the announcement of a new £10m convertible loan facility with London Oil & Gas (LOG). The loan, subject to shareholder approval, may be converted at a price of 19p with interest on funds drawn down charged at LIBOR +9%. The new facility is secured against all of the current and future assets of the company. Principal and interest is repayable 36 months after drawdown of the relevant tranch