Afren To Price $300 Million Seven-Year Bond At 10.25%
March 01 2012 - 4:35AM
Dow Jones News
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
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