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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It will also be used to repay an existing term loan facility worth around $123m.
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.
-
Why stagflation now seems like America's "optimistic scenario"Investors have gone into tariff shock, and stagflation could now be the optimistic scenario for the US economy.
-
Live: UK inflation likely to drop tomorrow before big jump next monthTomorrow’s CPI report could show UK inflation slowed to 2.7% in March, according to analysts. But is a spike on the horizon?
