Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

BRIEF- Tap Oil to retain its interest in Manora asset

Published 31/08/2015, 08:02 pm
© Reuters.  BRIEF- Tap Oil to retain its interest in Manora asset
BNPP
-
TAP
-

Aug 31 (Reuters) - Tap Oil Ltd TAP.AX :

* Tap to retain its interest in the Manora asset

* Strategic review process confirmed that there is considerable interest in the company's Manora asset

* Signed exclusive mandate and indicative terms and conditions with Macquarie bank limited for US$55m borrowing base debt facility

* Facility to refinance its existing us$56m debt with BNP Paribas (PARIS:BNPP) and Siam Commercial Bank

* Best outcome for shareholders is to retain its interest in the Manora asset and its current portfolio of assets in Australia and Myanmar

* Macquarie facility will have a maturity date of 31 december 2018 with no repayments expected in 2015

* Source text for Eikon ID:nASX5T6l5C

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.