TransAtlantic Petroleum arranges $55 million placement of convertibles

Offer finances debt repayment, working capital and corporate purposes

By Devika Patel

Knoxville, Tenn., Dec. 19 – TransAtlantic Petroleum Ltd. said it will raise between $25 million and $55 million in a private placement of convertible notes.

Proceeds will be used for short-term debt repayment, working capital and general corporate purposes.

TransAtlantic Petroleum is an Addison, Texas-based energy company engaged in the acquisition, development, exploration and production of crude oil and natural gas.

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