HRT Has Paid Credit Suisse Loan for Polvo Field

Source: www.gulfoilandgas.com 2/24/2014, Location: South America

HRT Participacoes em Petroleo S.A., in compliance with the provision of CVM Instruction 358/02, announces that its wholly-owned subsidiary, HRT O&G Exploracao e Producao de Petroleo Ltda., fully paid, on February 21st, 2014, the balance of the loan with Credit Suisse, which was contracted in May 2013 to acquire 60% participating interest in the Polvo Field, in the Campos Basin.

The original loan amount was USD 75 million. The first payment, in the amount of USD 40 million, was made on October 15th, 2013. The remaining balance was to be paid in 5 quarterly instalments from April 2014, however the Company decided to make the prepayment of debt in order to release a set of guarantees and relevant obligations under the Loan Agreement.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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