Jubilant energy jumps on debt deal

Shares in Jubilant Energy rose almost 10 per cent after it announced a multi-million rupee loan for its Indian subsidiary.

Jubilant Offshore Drilling signed up for a term loan facility worth around $254m with a consortium of banks, led by State Bank of India.

The firm said the facility would fund capital expenditure for the appraisal and development of its KG Block, as well as the development of Deen Dayal West.

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It will also be used to repay an existing term loan facility worth around $123m.

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The loan lasts for 12 years, with repayment in quarterly instalments beginning December 31st 2015.

Jubilant's shares from 9.6% to 16p in morning trading following the announcement.

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