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ShaMaran Petroleum Corp concludes USD150m senior secured bond issue.

M2 EQUITYBITES-November 14, 2013-ShaMaran Petroleum Corp concludes USD150m senior secured bond issue(C)2013 M2 COMMUNICATIONS

Kurdistan oil company ShaMaran Petroleum Corp (TSX VENTURE:SNM)(Stockholm:SNM.ST) revealed on Wednesday the completion of its USD150m senior secured bond issue.

The company added that the bond has a five year maturity without amortization and carries an 11.5% fixed semi-annual coupon.

According to the company, the proceeds of USD150m from the bond issue will be used to finance development activities to achieve first production.

Pareto Securities AS was the manager and book runner for the bond placement.

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Publication:M2 EquityBites (EQB)
Date:Nov 14, 2013
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