Listing of Panoro Energy’s bonds
Panoro Energy ASA the independent oil and gas company with assets in West Africa and Brazil, announces that the company intends to list its existing USD bond (ISIN NO 001 059097.9) and its NOK bond (ISIN NO 001 059096.1) at Oslo ABM (Oslo Alternative Bond Market) by end of 4th quarter 2012.
As per December 1, 2012 the Company’s outstanding bond debt was as follows:
USD tranche of USD 94.5 million and NOK tranche of NOK 184.5 million, in total approximately USD 127 million. The bond debt has a tenor of eight years from 2010 with annual installments of approximately USD 14 million from November 2012 until November 2017. The remaining USD 56 million matures in November 2018.
The USD tranche carries a coupon rate of 12% while the NOK tranche carries a coupon rate of 13.5%. The bond debt has, inter alia, share pledges in the Company’s Brazilian subsidiaries, including the subsidiary that holds a 10% share in the BCAM-40 license which includes the Manati field.
For further information, please contact:
Carl Peter Berg
VP Commercial and Investor Relations
Tel: +55 21 3078 7472
Cell: + 55 21 8541 1907
Email: carl.peter.berg@panoroenergy.com
Please visit www.panoroenergy.com for more information. Panoro Energy ASA is listed on the Oslo Stock Exchange (Ticker code: “PEN”).