Energy and oilUpdated November 4

Pearl Petroleum places a $500 million bond

Forbes Middle East reported that Pearl Petroleum, jointly operated by Dana Gas and Crescent Petroleum, placed a $500 million senior secured bond carrying a 10.375% annual coupon and maturing in November 2031. The offering was 1.7 times subscribed and was increased from an initial $400 million. Proceeds are intended to refinance the company’s existing $350 million bond, establish debt-service reserves and support further development of the Khor Mor and Chemchemal gas fields, as well as general corporate purposes.

2 publishers2 reports

Coverage started November 4