Lundin deal

By London

 28 June 2012 22:59 GMT

SWEDISH explorer Lundin Petroleum has lined up a new $2.5 billion revolving credit facility from a consortium of 25 lenders.

The secured senior facility will mainly be used to fund Lundin’s exploration and development plans at Edvard Grieg and Brynhild, off Norway, as well as existing projects.

Chief executive Ashley Heppenstall said: “We will also have significant spare financial capacity to potentially seize new opportunities or carry out additional developments.”



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