Finance - Debt
It stands at $1.7 million after the semiannual redetermination.
Petrobras’ new CEO is close to getting auditors to approve financial results. But cash must be generated to pay oil’s largest debt load, while also developing offshore fields, Bloomberg said.
Royal Dutch Shell Plc hired Barclays Plc to arrange a 10 billion pound (US$15 billion) short-term bridge loan for the purchase of BG Group Plc, people told Bloomberg.
Proceeds will support general corporate purposes, development of two new barge terminals at New Matamoras and Mills Hunter facilities, four new Mills Hunter saltwater disposal wells and new 407 trucks.
Net proceeds from the note offering, and some net proceeds from an offering of about 5.2 million common shares closed March 20, will finance redemption of 8.625% notes due 2018.
Murray Energy Corp. will acquire 34% of Foresight Energy LP parent unit voting rights during $1.37 billion takeover, Bloomberg said. Without voting control, Murray won’t buy $600 million Foresight bonds.
Barry Kupferberg’s Trilogy Capital Management hedge fund is one of many creditors seeking to take over financially struggling Connacher Oil & Gas Ltd., Bloomberg said.
Eagle Rock had about $180 million in total liquidity, comprised of about $108 million under its credit facility and about 3.1 million Regency units valued at $72 million.
Connacher Oil & Gas Ltd.’s bid to restructure out of court in Canada was rejected after Credit Suisse sued in New York state court, citing Connacher’s loan default, Bloomberg said.
Endeavor sold $300 million of eight-year senior unsecured debt to refinance its asset-based line of credit, according data compiled by Bloomberg. Energy companies are trying to shore up their finances.
Royal Bank of Canada is administrative agent. Participant lenders include Bank of Nova Scotia, BOKF NA, Comerica Bank, Wells Fargo Bank NA, Frost Bank and MUFG Union Bank.