Tag Archives | fundraising

TBI Launches $100m Iraq Fund

By John Lee. The Trade Bank of Iraq (TBI) has reportedly announced the launch of a new $100-million investment portfolio fund. According to press reports, the Dananeer Fund has been set up in partnership with Cayman Islands-based Alpen Asset Advisors, and is structured as a “Segregated Portfolio Class B of the investment fund company“. The […]

GKP Completes $100m Bond Issue

Gulf Keystone Petroleum Ltd., operator of the Shaikan Field in the Kurdistan Region of Iraq, has announced the successful completion of the private placement of a 5-year senior unsecured $100 million bond issue (the “New Notes”). The New Notes will be issued at 100 percent of par and carry a 10 percent fixed semi-annual coupon. […]

GKP may issue $100m Bond

Gulf Keystone Petroleum (GKP) has mandated Pareto Securities to arrange fixed income investor meetings in conjunction with a potential bond issue. Following these meetings, and subject to market conditions and acceptable terms, a 5-year senior unsecured bond issue of $100 million (the “New Notes”) may take place. The proceeds from the New Notes will be […]

ShaMaran Arranges new Fundraising

ShaMaran Petroleum has announced that it that it has successfully completed the book build for the equity issue (the “Private Placement”) announced on January 19, 2017, on a private placement basis, of common shares of the Company (“Common Shares”). The pricing of the Private Placement was determined during the book-building process to be CAD 0.10 […]

GKP Announces Options; Shares Plunge to New Low

Shares in Gulf Keystone Petroleum (GKP) plunged 30 percent to a new low following the mid-morning announcement of details of fundraising and investment options: Gulf Keystone today publishes further details on potential interim investment scenarios to build a common foundation for stakeholder discussions on the Company’s need for near-term fundraising, upcoming debt obligations and possible […]

Iraq Abandons Govt Bond Issue

By John Lee. Reuters quotes Iraqi Deputy Finance Minister Fathil Nabi as saying that Iraq has abandoned its plan to issue international bonds because the yield it would have to pay was too high. The required return on the bonds reportedly forced Finance minister Hoshiyar Zebari (pictured) to halt the plan to raise up to […]

DNO Completes $400m Bond Placement

DNO ASA, the Norwegian oil and gas operator, has completed the placement of USD 400 million of new, five-year senior unsecured bonds with a coupon rate of 8.75 percent and an issue price of 87.5 percent of par value. The bond placement received strong investor demand across international markets and its combination of a fixed […]

Genel Energy Secures Additional Funding

By John Lee. Genel Energy has announced that it has completed its issue of the U.S. $230 million 7.5% senior unsecured bonds due 14 May 2019. As part of the issue of the bonds, Genel Energy Finance 3 plc (as issuer) and Genel Energy plc (as parent) entered into a bond agreement on 9 April […]

GKP ex-Chairman Claims “Forced Out”

By John Lee. Gulf Keystone‘s former Chairman Simon Murray (pictured), whose retirement was announced by the company on Tuesday, told Reuters he was effectively forced to quit the company. Murray said he disagreed with the firm’s decision to raise $41 million through an equity issue at a 21 percent discount to the market, a move intended […]