By John Lee. Gulf Keystone has announced the launch of an offering of senior unsecured convertible bonds due October 2017 in a principal amount of USD$ 200 million, which may be increased in the event the Company exercises in full its increase option of up to USD$ 25 million (the "Increase Option"). Shares in the […]
By John Lee. Shares in WesternZagros Resources hit a two-and-a-half-year high of Cdn$1.38 on Tuesday after the company announced that it has signed a strategic investment agreement with Crest Energy International LLC, under which Crest will purchase, through a non-brokered, private placement, 40,714,286 Common Shares of the Company at Cdn$1.40 per share for gross proceeds […]
Reuters reports that the United Arab Shipping Company (UASC), which is jointly owned by a group of Gulf Arab states and Iraq, has picked banks for investor meetings in advance of a possible bond issue. Deutsche Bank, Mitsubishi UFJ and UBS will arrange meetings for the company. Roadshows will begin in Singapore on Thursday, and […]
ShaMaran Petroleum Corporation reports that it has increased the $50 million private placement previously announced on October 25, 2011 to $51 million. The Company will now sell on a non-brokered, private placement basis an aggregate of up to 127.5 million common shares of the Company at a price of $0.40 per common share for gross […]
ShaMaran Petroleum reports that, subject to regulatory approval, it will carry out a non-brokered, private placement of up to an aggregate of 125 million common shares of the Company at a price of $0.40 per share for gross proceeds of up to Cdn $50 million. Shares issued pursuant to the private placement will be subject […]
WesternZagros Resources has announced a strategic investment agreement with the Abu Dhabi National Energy Company PJSC ("TAQA"). The company's shares have risen 23% since Friday's close. Under the Agreement, TAQA will purchase, through a private placement, 74 million common shares in the Company at C$0.63 per share for gross proceeds of C$46,620,000. When this private […]
Asiacell has selected HSBC and Morgan Stanley to manage its initial public offering (IPO) on the Iraqi bourse, according to Bloomberg. Chief Executive Officer Diar Ahmed told the news agency that the company will offer 25 percent of its shares, but did not specify when. The company, which is an affiliate of Qatar Telecom, is […]
Dubai's Majid Al Futtaim Holding (MAF), sole franchisee of hypermarket chain Carrefour in the Gulf, is to set up a sukuk programme (debt securities structured to comply with the Islamic law) as market volatility continues to thwart its plans for a conventional issue, according to a report from Reuters. MAF completed roadshows for an offering […]
Gulf Keystone has announced that it has successfully raised $200 million to fund its exploration programme in Iraqi Kurdistan. In line with the Company's forward strategy announced on 14 September 2011 and in order to increase the focus on the aggressive programme of exploration and appraisal of the Shaikan, Sheikh Adi and Ber Bahr blocks […]
DNO, the Norwegian oil company with operations in Iraqi Kurdistan, has announcee that the bond offering it announced on 9th March has been completed on 30th March, 2011. The bond issue was split between a USD tranche of approx. USD 140 million and a NOK tranche of approx. NOK 560 million, for a combined amount […]
Cordiant Capital, the Montreal based fund manager that specialises in loans to emerging markets, has committed $50 million to fund the expansion of Iraq’s mobile phone network. Mobile penetration in Iraq is estimated at just 77%, lagging far behind most of its neighbouring countries where penetration rates are virtually 100%. The loan is part of […]
WesternZagros Resources has announced that it has closed its previously announced private placement offering (the "Offering") of common shares of the Company (the "Shares"). The Company sold, through a syndicate of agents, 89,665,352 Shares at a price of Cdn$0.48 per share for gross proceeds of Cdn$43 million. The Shares issued under the Offering are subject […]
