Monday, November 16, 2009

Serica gets US$100 M to refinance Kambuna field

Serica Energy Plc told London and Toronto stock exchanges today that it has entered into a new US$100 million senior secured revolving credit facility to replace its previous facility of a similar amount. 
The new facility, which has been arranged by JP Morgan Plc, Bank of Scotland Plc, and Natixis as mandated lead arrangers, is for a term of three years. The facility is principally to refinance the company's outstanding borrowings on the Kambuna field which commenced production of gas and condensate in August of this year. 

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