SINGAPORE (Yosefardi) – KrisEnergy, an independent upstream oil and gas company with substantial interests in Indonesian oil and gas industry, has successfully priced an aggregate amount of S$130 million 6.25% fixed rate notes due 2017 under the S$500 million Multicurrency Medium Term Notes Program (MTN Program) established on 26 May 2014.
The notes, which drew strong demand from private banking accounts and institutional investors, are expected to be issued on 9 June 2014.
With the initial deal size of S$100 million subscribed almost eight times, the company felt comfortable to increase the issuance to S$130 million.
The net proceeds will be used for the development of two oil projects in the Gulf of Thailand, which are both scheduled to start production in 2015, and for acquisitions in KrisEnergy continued push to grow its portfolio.
Standard Chartered Bank and The Hongkong and Shanghai Banking Corporation Limited
(HSBC) were appointed as Joint Arrangers of the MTN Program.