18th Sep 2020 09:59
(Alliance News) - Vivo Energy PLC said Friday it has priced its offering of USD350 million in senior notes, which was first announced on Thursday last week.
The notes will have a maturity date in 2027, and will bear interest at an annual rate of 5.125% to be issued at their nominal value.
The notes are expected to be issued on Thursday next week, and be given a Baa3 rating by Moody's Investors Services, and BB+ by S&P and Fitch.
Proceeds from the note offering will go towards the repayment of several facilities and for general corporate purposes.
Shares in the downstream petroleum firm - which sells Royal Dutch Shell PLC-branded products - were down 1.6% at 73.40 pence in London, while its Johannesburg shares were untraded at ZAR15.70 on Friday.
By Dayo Laniyan; [email protected]
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