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UPDATE: Pacific Rubiales Closes $1B Senior Unsecured Note Offering

Pacific Rubiales Energy Corp. (PRE.TO) has successfully closed an offering of US$1 billion in senior unsecured notes at a rate of 5.12% due 2023.

The net proceeds from the sale of the notes will be used by the company to repay outstanding short-term indebtedness and for general corporate purposes.

Earlier, the company announced that it has elected to exercise its option to acquire a 35% interest in Block S-M-1166 held by Karoon Gas Australia Ltd. through the funding and participation in the Bilby-1 exploration well, offshore Santos basin, Brazil. This will be the third exploration well the company has participated in the Karoon blocks, following the Kangaroo-1 and Emu-1 wells.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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