Aberdeen-based oil firm Faroe Petroleum has authorised advisors to arrange investor meetings with a view to issuing a £75million, five-year unsecured bond.
London-listed Faroe said any debt raised would support its efforts to increase production, but that there could be “no certainty” that a transaction would happen.
A spokesman for Faroe said: “We have mandated Danske Bank, DNB Markets and SEB to arrange a series of fixed income investor meetings commencing on 15 November 2017.
“Subject to market conditions, a senior unsecured bond issue of $100 million, with an expected tenor of five years may follow.”
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