Debt for sale: KrisEnergy to market notes under $500 million MTN Programme

Development assets need lots of capital.

KrisEnergy has just recently announced that it will begin the marketing and sale of a new issuance of notes under the company’s Medium Term Note Programme.

In a media release, KrisEnergy will market and sell to institutional and/or sophisticated investors.

The net proceeds arising from the issue of Notes (after deducting expenses incurred in connection with the issue of the Notes) will be used for planned capital expenditures to be incurred in the near term in connection with the development assets of the Company and its subsidiaries, which will primarily include G10/48, G11/48, Cambodia Block A and Block A Aceh, as well as general corporate purposes.

The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank have been appointed as Joint Lead Managers and Joint Bookrunners of the Notes.

Here’s more from KrisEnergy:

Under the MTN Programme, the Company may, subject to compliance with all relevant laws, regulations and directives, from time to time issue notes in Singapore dollars or any other currency agreed between the Company and the relevant dealers to each issue of notes and as specified in the applicable pricing supplement.

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