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Tuesday, 02 December, 2008, 19:20 GMT | more >>

Petrojack unveils $56m bond plan



By Upstream staff 

Norwegian driller Petrojack is planning to issue a new bond in a bid to rake in between Nkr 350 million ($56.9 million) and Nkr500 million.

The bond will carry a coupon of 11% per annum and settlement is expected in April.

Petrojack said the bond will be secured by a third priority mortgage on its two jack-up rigs being built at Singapore's Jurong shipyard, which are due for delivery in January and December next year.

The bond, which matures in April 2010, will help fund investments. Pareto Securities is arranging the new bond issue.


Thursday, 22 March, 2007, 15:36 GMT  | last updated: Thursday, 22 March, 2007, 15:36 GMT

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