By Rebecca Melvin
New York, Feb. 17 – PetroTal Corp. has issued $100 million 12% senior secured bonds due in three years, according to a company news release on Wednesday.
The issue will be the company’s only interest-bearing debt and will be used to retire its existing derivative liability with Petroperu, continue development of the Bretana oil field, support the company’s crude oil price hedging strategy and finance potential acquisitions.
Pareto Securities was the bookrunner.
The oil and gas development and production company is based in Calgary, Alta.
Issuer: | PetroTal Corp.
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Amount: | $100 million
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Maturity: | Three years
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Security description: | Senior secured bond
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Bookrunner: | Pareto Securities
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Coupon: | 12%
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Issue date: | Feb. 16
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