Petroceltic agrees $30m facility with Macquarie

Exploration company Petroceltic International has agreed a $30 million bridge facility with Macquarie Bank.

10th October, 2011

Exploration company Petroceltic International has agreed a $30 million bridge facility with Macquarie Bank, Bloomberg reports.

“Macquarie approved a commitment in respect of a 12 month debt facility for up to $30 million for Petroceltic, subject to the standard conditions precedent for this type of facility,” Petroceltic said.

Petroceltic granted Macquarie 15 million warrants to subscribe for ordinary shares at a price of 4.52 pence. Macquarie may also be entitled to up to 25 million additional...

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