The oil and gas company PA Resources AB is contemplating issuing a new unsecured bond loan of NOK 300 - 500 million.

 

The total amount of the new bond loan will be a minimum of NOK 300 million and a maximum of NOK 500 million (equivalent to approximately SEK 369 - 615 million). The new unsecured bond loan will have a maturity date in March 2011.

 

-  The net proceeds of the bonds will be used for general corporate purposes as well as to refinance the existing bond loan which expires in March 2010, says Bo Askvik, Executive Vice President and CFO of PA Resources AB.

 

Fearnley Fonds ASA and Pareto Securities AS have been appointed as Managers for the new bond issue.

 

Stockholm, December 1, 2009
PA Resources AB (publ)

 

 

For further information, please contact:
Bo Askvik
Executive Vice President and CFO
PA Resources AB
Telephone: +46 708 19 59 18
E-mail: bo.askvik@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 today 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 2,420 Million during 2008. 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.