Completion of placement of SGD $100 million notes

RNS Number : 7696K

Indus Gas Limited

21 April 2015

 



For Immediate Release                                                                                      21 April 2015

Indus Gas Limited

("Indus" or "the Company")

Completion of placement of SGD $100 million senior unsecured notes as first tranche of a Medium Term Note ("MTN") programme

Indus Gas Limited (AIM:INDI.L), an oil & gas exploration and development company with assets in India, is pleased to announce that it has priced an issue of SGD $100 million in senior unsecured notes ("the Notes") due 23 April 2018 at a coupon of 8% fixed.

Settlement date for the new Notes is expected to be on or about 23 April 2015.

Indus continues to widen the funding options available to the Company and has established an MTN programme with the SGX in Singapore for up to US $300 million. Depending upon the funding requirement and subject to potential availability of financing on reasonable terms, the Company may draw further tranches against this MTN programme in future.

The net proceeds of the Notes will be used to fund further drilling activities in the Rajasthan Block.

For further information please contact:

Indus Gas Limited

Peter Cockburn

John Scott                                                                                            [phone]

Arden Partners plc

Steve Douglas                                                                                      [phone]

Bell Pottinger PR

Philip Dennis                                                                                        [phone]

 

END

 

 

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