28th Aug 2015 08:50
LONDON (Alliance News) - Jubilant Energy NV on Friday said it has secured a funding deal with Vernons Financial Ltd under which it will receive a USD13.5 million unsecured loan.
Vernons Financial is a British Virgin Islands-based investment vehicle.
The five-year loan will expire in August 2020 and the initial tranche will be for USD12.5 million, with additional tranches to be drawn on a mutually-agreed basis.
Shares in Jubilant were up 31% on Friday morning to 2.95 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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