Nov. 14 (Bloomberg) -- InterOil Corp., an oil and gas
explorer focused on Papua New Guinea, received a one-year $250m
secured capex loan, according to co. statement.
* Syndicated facility was agreed on Nov. 11 and led by Credit
Suisse: statement
* Other lenders are CBA, ANZ, UBS, Macquarie, BSP, BNP and
Westpac: statement
* Proceeds will fund exploration and drilling program: report
* Facility is secured by co.’s existing upstream and corporate
entities: statement
* Margin is 5.5% more than Libor on the drawn amount for the
first six months: statement
* After six months, the margin rises 2% every two months to a
maximum of 11.5% in the last two months of the term:
statement
* Facility is payable in full upon sale or disposal of co.’s
interest in the Elk and Antelope fields: statement
* Co. is maintaining the debt-to-capital ratio at 50% or less:
statement
* Debt-to-capital ratio was 20% on Sept. 30, up from 13% a
year ago: statement