PA Resources signs credit facility of USD 125 million
(Thomson Reuters ONE) - The oil and gas company PA Resources AB has entered into a USD 125million corporate finance facility agreement with Standard Bank.The new credit facility replaces an existing facility of USD 30million and represents an extension by USD 95 million to USD 125million (corresponding to approximately SEK 875 million). This oneyear facility is to be refinanced with a structured financing."The new credit facility is a result of the Group's continuingrefinancing efforts and will be used to support PA Resourcescontinued production growth in West Africa", says Ulrik Jansson,President and CEO at PA Resources AB."We are very pleased to extend our existing relationship with PAResources through this facility. Standard Bank has been impressedwith the management team's successful execution in both developmentand exploration of the portfolio assets", stated Peter Heintzelman,Director Oil and Gas at Standard Bank's London office.Stockholm, 28 September 2009PA Resources AB (publ)For further information, please contact:Bo AskvikExecutive Vice President and CFOPA Resources ABTelephone: +46 708 19 59 18, +46 8 21 83 82E-mail: ir(at)paresources.sePA Resources AB (publ) is an international oil and gas group with thebusiness strategy to acquire, develop, exploit and divest oil and gasreserves, as well as explore new findings. The Group operates inTunisia, United Kingdom, Denmark, Greenland, Netherlands, EquatorialGuinea and the Republic of Congo (Brazzaville). PA Resources is todayone of the largest oil producers in Tunisia. The parent company islocated in Stockholm, Sweden.PA Resources' net sales amounted to SEK 2,420 Million during 2008.The company is primary listed on the Oslo Stock Exchange in Norway(segment OB Match) and secondary listed on the NASDAQ OMX NordicExchange in Stockholm, Sweden (segment Mid Cap). For furtherinformation, please visit www.paresources.se.Standard Bank is a leading African banking group focused on emergingmarkets globally. Standard Bank's Corporate and Investment Bankingdivision is a leading global emerging markets corporate andinvestment bank and offers its clients banking, trading, investment,risk management and advisory services in developing economiesthroughout the world. It has specific sector expertise in industriesrelevant to its global footprint, with strong sector valuepropositions in: mining & metals; oil, gas & renewables;telecommunications & media; power & infrastructure and FinancialInstitutions. Standard Bank Plc in London is the bank's principalinternational subsidiary. It is authorised and regulated by theFinancial Services Authority. For further information, visitwww.standardbank.com/cib.http://hugin.info/130006/R/1343956/322111.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 28.09.2009 - 08:55 Uhr
Sprache: Deutsch
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