Karoon's Subsidiary KPG has Signed a Senior Secured Term Loan for Baúna

  • Oct 14, 2019 AEDT
  • Team Kalkine

Karoon Energy Limited (ASX: KAR) announced that its wholly owned subsidiary Karoon Petróleo e Gás Ltda (KPG) has signed a senior secured term loan facility of ~US$275 million, fully underwritten by ING Bank N.V., Singapore Branch.

  • The term loan facility will be used as part of the funding package for the acquisition of a 100% operating interest in the Baúna oil field in the Santos basin, offshore Brazil;
  • The loan facility is priced on a 4% margin over LIBOR for a term of up to 4 years and will be fully amortised over the loan life.

At AEST 01:14 PM, the stock was trading at $1.130 per share, down by 0.441% from its previous close.


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