UK-listed Gulf Keystone Petroleum has raised $250 million indebt financing to fund its planned expansion of the Shaikan oilfield onshoreIraqi Kurdistan.
The three-year senior unsecured notes priced at 13% are toyield net proceeds of $240 million.
The explorer said it would use the cash to finance thecontinued development of the Shaikan field, where a second production facilityis planned to ramp up output from 10,000 barrels per day of oil to 40,000 bpdby next year.
Some
