Providence plans to raise €60-€70m through bond issue
Chief executive says company plans to go to the markets for the bond in early 2021
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.
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine
Ian Guider: G7 edict is a chance for Ireland to change course and develop some global champions of our own
The upcoming changes to global taxation of multinationals pose a huge challenge to this country – but also present us with an opportunity to reduce our reliance on foreign behemoths
Staycity expands in France and Germany in post pandemic push
The Irish aparthotel operator opened properties in Heidelberg and Bordeaux, and plans to add ten more locations this year and next
Stobart Air to appoint liquidator after net liabilities triple to €68.5m
Regional carrier for Aer Lingus says turnover plummeted 73 per cent from normal levels due to Covid travel restrictions