Oil and gas company Afren PLC (AFR.LN), guaranteed by Afren Nigeria Holdings, is to price its $300 million, seven-year bond to yield 10.25%, one of the banks on the deal said Thursday.

The company held a series of global investor meetings ahead of the bond sale, in London and in the U.S., throughout this week. Pricing is expected Thursday.

BNP Paribas SA, Deutsche Bank AG and Goldman Sachs Group Inc. are lead managers of the deal.

The issuer is rated B- by Standard & Poor's Corp. and B by Fitch Ratings.

Proceeds will be used to repay existing debt and for general corporate purposes.

- By Sarka Halas, Dow Jones Newswires; +44 (0) 207 842 9236; Sarka.Halasova@dowjones.com

Afren (LSE:AFR)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Afren Charts.
Afren (LSE:AFR)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Afren Charts.