• PetroTal has raised ~US$100 mm through a 3 year senior bond issue with a fixed coupon of 12% per year and a borrowing limit of US$125 mm. ~US$20 mm will be used to repay the US$16.6 mm derivative liabilities to Petroperu (formalized in November) plus US$2.9 mm for the government pandemic loan while US$20 mm are earmarked to make acquisitions. The balance will be invested in the Bretana field to accelerate production, along with funds to secure a hedging programme.
• Recall that with the rece ....
02 Feb 2021
PetroTal Corp (AIM: PTAL): Successful US$100 mm bond raise opens new horizons
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PetroTal Corp (AIM: PTAL): Successful US$100 mm bond raise opens new horizons
PetroTal Corp. (PTAL:LON) | 44.2 0 0.0% | Mkt Cap: 406.8m
- Published:
02 Feb 2021 -
Author:
Stephane Foucaud -
Pages:
5
• PetroTal has raised ~US$100 mm through a 3 year senior bond issue with a fixed coupon of 12% per year and a borrowing limit of US$125 mm. ~US$20 mm will be used to repay the US$16.6 mm derivative liabilities to Petroperu (formalized in November) plus US$2.9 mm for the government pandemic loan while US$20 mm are earmarked to make acquisitions. The balance will be invested in the Bretana field to accelerate production, along with funds to secure a hedging programme.
• Recall that with the rece ....