Debt Funding Finalised
Brisbane, Dec 13, 2012 AEST (ABN Newswire) - As foreshadowed at the Texon Petroleum Ltd (
ASX:TXN) EGM on 31 August 2012, senior secured short term funding of $25m at an interest rate of 20% pa payable six monthly has been finalised. The funding, which is for a period of 12 months has been provided by a consortium of lenders who were issued non-convertible loan notes as security by the Company.
The funds will provide certainty for the Company's planned drilling program through the coming months into 2013.
The facility is repayable if the proposed transaction with Sundance Energy Australia Limited is implemented.
Contact
Texon Petroleum Ltd
T: +61 7 3211 1122
F: +61 7 3211 0133
E: texon.info@texonpetroleum.com.au
WWW: www.texonpetroleum.com.au
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