Energy Africa Announces Signing Of Us$50m Revolvin
Energy Africa Limited
Registration number: 1995/007140/06
(Incorporated in the Republic of South Africa)
Share Code : ENR
ISIN Code : ZAE000010427
ENERGY AFRICA ANNOUNCES SIGNING OF US$50m REVOLVING CREDIT FACILITY
Energy Africa is pleased to announce the signing in London yesterday of a
US$50million seven year revolving credit facility. The facility was arranged
by ABN AMRO Bank, London and was fully subscribed by four syndicate banks,
namely, ABN AMRO, BNP Paribas, IntesaBci and Bank of Tokyo-Mitsubishi. The
facility is a limited recourse one and is backed by the company's interests
in the North Sea.
The purpose of the facility is to fund development expenditure principally
in the North Sea and Equatorial Guinea, where the company has recently made
some significant oil discoveries.
Rhidwaan Gasant, Managing Director of Energy Africa commented:
"Energy Africa is on an exciting growth path. We have an active programme of
development in Equatorial Guinea, elsewhere in Africa and in the UK as well
as a very busy exploration and appraisal drilling schedule. This facility
will contribute towards the financing of our developments. Our exploration
activity continues to be funded from internally generated cash flow."
20 December 2001
For more information about Energy Africa see: www.energyafrica.com.
Enquiries:
In Cape Town:
Energy Africa Ltd
Rhidwaan Gasant
+27 21 400 7600
Corporate Image
Tamra Veley
+27 21 426 1233
In London:
Energy Africa
Andrew Windham and Bill Torr
+44 20 7632 8600
College Hill
Nicholas Williams
+44 20 7457 2020
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