PA Resources issues a five-year bond loan
The oil and gas company PA Resources AB has issued a five year, un-secured bond loan of NOK 900 million (equivalent to approximately USD 161 million).The new bond loan amounts to NOK 900 million (equivalent to approximately USD 161 million) and is issued without security. It’s a five year bond loan with final maturity date in April 2016. The bond loan is denominated in NOK but is converted to USD with a swap contract. The bond loan runs with a fixed coupon rate corresponding to approximately 10 percent based on USD.The net proceeds from the issue will be used to repay an existing bond