PetroTal announced today that it has successfully completed the placement of a 3-year US$ 100 million senior secured bond (as announced on January 12, 2021) with a fixed coupon of 12% and a borrowing limit of $125 million.
PetroTal intends to use the net proceeds from the Bond to repay all existing outstanding loans (in particular the restructured derivative liability with Petroperu, details of which were announced on January 19, 2021), to finance the continued developing of the Bretana oil field, to provide support for crude oil hedging transactions, and to finance potential acquisitions.
The Bond is expected to close on or about February 16, 2021, subject to customary closing conditions. Pareto Securities acted as sole book runner and manager of the bond issue.
(IRuniverse)
