PA Resources issues bond loan of SEK 850 million
(Thomson Reuters ONE) -
The oil and gas company PA Resources AB has issued an un-secured bond loan
maturing in October 2013 on the Swedish market, primarily in order to repay an
existing bond loan maturing in March 2011.
The bond loan is issued without security and the total loan amount amounts to
SEK 850 million. The issue has been carried out primarily in order to repay an
existing bond loan of NOK 500 million (equivalent to approximately SEK 570
million) maturing in March 2011. As a result of a large interest among
investors, the issue amount has been increased to SEK 850 million. The new bond
loan matures in October 2013 and has a fixed coupon rate of 10.50 % per year. PA
Resources intends to list the bonds for trading on NASDAQ OMX in Stockholm.
In connection with the issue, NOK 72.5 million (equivalent to SEK 83 million) of
the outstanding bond loan totaling NOK 500 million (ISIN NO0010560725, ticker
PAR03 PRO on the Oslo ABM) has been repurchased by PA Resources. The bond loan
is an un-secured bond loan issued by PA Resources AB and the remaining NOK
427.5 million matures on 9 March 2011.
- The net proceeds from the new bond loan will be used primarily to refinance
the remaining part of the NOK 500 million bond loan, but also some additional
loans maturing in 2011. It is with satisfaction that we can conclude that there
has been considerable interest in the issue, says Bo Askvik, President and CEO
of PA Resources AB.
Carnegie Investment Bank AB (publ) and E. Öhman J:or Fondkommission AB have
together acted as financial advisors in connection with the issue of the new
bond loan.
Stockholm, 17 December, 2010
PA Resources AB (publ)
For further information, please contact:
Nicolas Adlercreutz
CFO
PA Resources AB
Telephone: +46 70 587 44 88
E-mail: nicolas.adlercreutz(at)paresources.se
PA Resources AB (publ) is an international oil and gas group with the business
strategy to acquire, develop, exploit and divest oil and gas reserves, as well
as explore new findings. The Group operates in Tunisia, United Kingdom, Denmark,
Greenland, Netherlands, Equatorial Guinea and the Republic of Congo
(Brazzaville). PA Resources is one of the largest oil producers in Tunisia and
is also producing oil in the Republic of Congo. The parent company is located in
Stockholm, Sweden.
PA Resources' net sales amounted to SEK 2,113 million during 2009. The company
is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden (segment Mid
Cap) and on the Oslo Stock Exchange in Norway (segment OB Match). For additional
information, please visit www.paresources.se.
The above information has been made public in accordance with the Securities
Market Act and/or the Financial Instruments Trading Act. The information was
published at 08.30 CET on 17 December, 2010.
Complete press release:
http://hugin.info/130006/R/1473540/409919.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: PA Resources AB (publ) via Thomson Reuters ONE
[HUG#1473540]
Unternehmensinformation / Kurzprofil:
Datum: 17.12.2010 - 08:32 Uhr
Sprache: Deutsch
News-ID 49823
Anzahl Zeichen: 3825
contact information:
Town:
Stockholm
Kategorie:
Business News
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