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.

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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.

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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.

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