Providence plans to raise €60-€70m through bond issue

Providence Resources’ partners in the development of the Barryroe oil and gas field plan to raise between €60 million and €70 million through a bond issuance in the coming months, the Business Post understands.

Providence last week announced it had reached a farm-out deal for the Barryroe field with a consortium led by Norway’s SpotOn Energy. The Irish exploration company expects it could begin making dividend payments within three years.

The agreement, first reported by ...