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Faroe Petroleum USD 100m senior unsecured bond issue

Moderator

On 21 November, Faroe Petroleum successfully priced its USD 100 million inaugural bond issue. The Company received strong feedback from investors through the marketing phase and the bond was priced at a fixed coupon of 8.0%. The proceeds from the bond issue will augment the Company’s strong liquidity and support Faroe’s strong financial investment as it moves into a material growth phase over the coming years. Read more.

 

Faroe Petroleum is a leading independent oil and gas company quoted on the London Stock Exchange’s AIM market with a market cap of approximately USD 500 million. The Company owns more than 40 exploration, appraisal and production assets in Norway and the UK, with forecast 2017 net production of 13-15,000 boepd and a five-year growth trajectory to >40,000 boepd from its existing portfolio.

 

DNB Markets is proud to have acted as a Joint Lead Manager and Bookrunner and advising Faroe Petroleum in connection with this transaction.

 

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