Staatsolie - Suriname's National Energy, Oil & Gas Company - Staatsolie raises US$211.7 million more than targeted with new bond issue
Summary
"New" money refers to the total amount that would come in above the US$ 195 million of the Staatsolie Bond 2020-2025 and 2020-2027.Proceeds from the bond issue will be used by Staatsolie to co-fund its participation of up to twenty percent in the development of the GranMorgu offshore oil field in Block 58. Some of the bondholders, accounting for US$55 million, decided to continue with their existing bonds.De Surinaamsche Bank N.V. (DSB) is the arranger of the 2025-2033 Staatsolie bond. By investing the proceeds from the new bond in the GranMorgu project, Staatsolie is taking a big step toward realizing its vision "Energizing a bright future for Suriname." The fact that ample more has been raised proves that small and large investors have faith in Staatsolie, the GranMorgu project and a brighter future for Suriname. This project is progressing steadily and Staatsolie and its partners in Block 58 will ensure that this too will be a success.