6th Jul 2018 11:25
LONDON (Alliance News) - Gulf Keystone Petroleum Ltd said Friday it has completed a private placement comprised of a 5-year senior unsecured USD100 million bond issue.
The company said it will issue the notes, carrying a 10% fixed semi-annual coupon, at 100 percent of par.
"The bond placement received strong investor demand, both from existing and new investors across international markets and was oversubscribed," Gulf Keystone said.
The company said it will use the proceeds from the new notes to refinance all of its existing USD100 million guaranteed notes due in 2021.
Gulf Keystone shares were trading down 4.6% at 237.00 pence each.
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