Maha Energy Announce Preliminary Agreement on Future Financing

Source: www.gulfoilandgas.com 2/4/2021, Location: South America

Maha Energy AB has signed a term sheet with a banking institution with experience in the Brazilian E&P sector for future financing to support the growth of the Company (the “Financing”). The completion of the Financing is subject to customary due diligence and final documentation, and the Company has granted an exclusivity period of 55 days to finalize due diligence and documentation. During this period, the Company retains the right to discuss a potential refinancing of its SEK 300 million bond with existing bondholders.

The net proceeds from the contemplated Financing will be used to refinance the existing bond debt, finance capital expenditures across Maha’s portfolio and general corporate purposes.

Pareto Securites AS is acting as sole financial advisor and Setterwalls is acting as legal advisor to Maha in conjunction with the Financing.


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