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.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
