|
Jadestone Energy PLC - Asia Pacific-focused oil and gas company - Closes a $50 million debt facility with two ‘international banks.’ Says this is part of its plan to arrange a reserves-based lending facility, which is an element of Jadestone’s medium-term financing strategy to fund development capital at the Akatara gas project in Indonesia and further growth through mergers and acquisitions. The facility has a nine month term and carries an initial margin of 450 basis points over secured overnight financing rate, which steps up in the event repayment occurs more than three months after closing. Chief Executive Paul Blakeley says: ‘The RBL will provide a much larger debt capacity, and we are making good progress with several potential lenders to conclude this around the end of the first quarter this year. ’ Current stock price: 87.90 pence, up 2.2% in London on Friday morning 12-month change: down 5.5% Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
