PGS Secures Commitment for Senior Secured Debt

Source: www.gulfoilandgas.com 5/24/2022, Location: Europe

Reference is made to the announcement issued on May 4, 2022 regarding the Private Placement and the Subsequent Offering. The Private Placement is, among other things, subject to the Company obtaining commitments to the satisfaction of the Company for approximately $50 million in new, senior secured debt by the time of the Extraordinary General Meeting (“EGM”) scheduled for May 27, 2022.

PGS has now obtained commitments for $50 million in new, senior secured debt on terms and conditions acceptable to the Company, and this condition is satisfied. Completion of the Private Placement and the Subsequent Offering remain subject to the other conditions previously announced by PGS, including approval by the EGM.

The new senior secured debt has a maturity together with the Company’s Term Loan B, in March 2024 and can be drawn at any time before September 18, 2022. It will bear interest at SOFR (Secured Overnight Financing Rate) plus a margin of 675 basis points. The Company will pay customary commitment fees and expenses.


Canada >>  6/17/2025 - Boralex inc. (“Boralex” or the “Company”) (TSX: BLX) announces its Strategic Plan and Financial Objectives for 2030.

2030 Strategy Highligh...

Norway >>  6/17/2025 - Please see below information about transactions made under the buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR) for shares to be used in the s...

Norway >>  6/17/2025 - Please see below information about transactions made under the second tranche of the 2025 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQN...
Switzerland >>  6/17/2025 - Glencore plc announces that it has today published its Payments to Governments Report for the year ended 31 December 2024 as required by the Disclosur...

United Kingdom >>  6/17/2025 - ATOME (AIM: ATOM) is pleased to announce its partnership with Curation Connect, a platform which will enable ATOME to showcase its investment case to ...
United Kingdom >>  6/17/2025 - Man Group plc (the "Company"), announces that it has purchased the following number of its ordinary shares of 3 3/7 US cents as part of its US$100 mil...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.