HOUSTON: PetroTal Corp. has successfully completed the placement of a 3-year US $100 million senior secured bond (as announced on January 12, 2021) with a fixed coupon of 12% and a borrowing limit of $125 million. PetroTal intends to use the net proceeds from the Bond to repay all existing outstanding loans (in particular the…
FCA publishes review into unsecured credit market
LONDON: The Financial Conduct Authority (FCA) has published a report on change and innovation in the unsecured consumer credit market following a Review by its former Interim Chief Executive, Christopher Woolard CBE. The Woolard Review sets out how regulation can better support a healthy market for unsecured lending, taking into account the impact of the…
Weir Group completes sale of oil & gas to Caterpillar Inc.
LONDON: The Weir Group PLC has completed the sale of its Oil & Gas division to Caterpillar Inc., a news release said. The sale, for an enterprise value of $405m, subject to customary working capital and debt-like adjustments, was first announced on 5 October 2020 and approved by Weir Shareholders on 23 November 2020. Since…
Polypipe Group acquires Nu-Heat Holdings for £27 million
LONDON: Polypipe Group plc, the leading manufacturer of water management and climate management solutions, announce its acquisition of Nu-Heat (Holdings) Limited for a total consideration of £27 million on a cash-free, debt-free basis. Commenting on the acquisition, Martin Payne, Polypipe Chief Executive Officer, said: “I am delighted to announce the acquisition of Nu-Heat, which aligns…
OGDCL reports hydrocarbon discovery in Sindh
ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) as operator (95%) and Government Holdings (Pvt) Limited (5%) has discovered gas & condensate from its exploratory well Sial-1, which is located in district Hyderabad, Sindh Province. The structure of Sial-1 was drilled and tested using OGDCL’s in house expertise. The well was drilled down to the…
Magnora ASA makes strategic entry into Nordic solar PV market with 25% acquisition in Helios
OSLO: Magnora ASA has entered into an agreement to acquire a 25 percent ownership share in a share issue in Helios Nordic Energy AB, a Swedish solar PV company focusing on large-scale greenfield projects in the Nordics. Magnora has the option to acquire a further 15 percent ownership share of Helios. Through a highly experienced…
FIRB approves the $205 million Acacia Ridge Terminal sale
SYDNEY: The Foreign Investment Review Board (FIRB) approved Aurizon Holdings’ sale of the Acacia Ridge Terminal to Pacific National (PN). The FIRB approval means the sale contract for the Terminal between Aurizon and PN becomes unconditional, with an expected close date of 26 March 2021. The $205 million sale to PN includes a non-refundable payment…
Fitch revises Sabra’s outlook to stable; Fitch and S&P affirm Sabra’s credit ratings
IRVINE: Sabra Health Care REIT Inc. (Nasdaq: SBRA) announced today that Fitch Ratings has revised its rating outlook for Sabra to Stable from Negative and that both Fitch and S&P Global Ratings affirmed the ratings for Sabra’s debt as ‘BBB-‘. Fitch notes in its report that its affirmation of Sabra’s ratings and revision to Stable…
Telenor ASA reports 2.0% EBITDA growth for 2020
OSLO: For the full year 2020, Telenor ASA delivered an organic EBITDA growth of 2 percent and a solid free cash flow of NOK 21 billion. The year 2020 was marked by the global pandemic. In this unprecedented situation, Telenor accelerated the digitalization, managed to safeguard employees and maintained critical connectivity to customers. “In the…
Aker Carbon Capture signs MoU with Lyse and Forus Energi
OSLO: Aker Carbon Capture has signed a Memorandum of Understanding (MoU) with Forus Energigjenvinning and Lyse to explore ways to support the development of a full-scale carbon capture and storage facility in the Stavanger/Sandnes region in southwestern Norway. The collaboration follows the recent launch of the “Longship” full-scale CCS project by the Norwegian government. “Carbon…
CDK Global acquires Square Root
HOFFMAN ESTATES: CDK Global Inc., a leading retail automotive technology company, completed the acquisition of Austin-based Square Root. Founded in 2006, Square Root is the creator of CoEFFICIENT, which helps automotive original equipment manufacturer (OEM) field managers understand and act on unique data patterns and opportunities for retailers in their markets. “The acquisition of Square…
Steve Penney appointed GM Funds Management at Kiwi Property
AUCKLAND: Kiwi Property has today announced the appointment of Steve Penney as General Manager Funds Management. Steve brings 20 years of investment and finance experience to the role, including most recently as General Manager, Investment, at Stride Property Group, where he was instrumental in the development and execution of the company’s funds management strategy. Prior…