Jubilant Energy N.V. Completion of loan agreement (5491N)

TIDMJUB

RNS Number : 5491N

Jubilant Energy N.V.

01 October 2012

1st October, 2012

Jubilant Energy N.V.

("Jubilant" or "the Company")

Completion of Rs 1,340 crores, equivalent to approximately USD 254 million, Loan Agreement with consortium of banks

Jubilant is pleased to announce that Jubilant Offshore Drilling Pvt Limited (JODPL), a subsidiary of the Company in India, on 28th September 2012 signed a Rupee Loan Agreement for a term loan facility of Rs 1,340 crores, equivalent to approximately USD 254 million with a consortium of banks, led by State Bank of India (SBI).

The term loan facility is to be used towards funding the capital expenditure for the appraisal and development of KG Block, particularly development of Deen Dayal West (DDW) and for the repayment of existing term loan facility of Rs 650 crores, equivalent to approximately USD 123 million. The loan has a door-to-door tenor of 12 years with repayment in quarterly installments commencing from 31 December, 2015.

Enquiries:

 
                    Ajay Khandelwal, Vipul 
 Jubilant Energy     Agarwal                     +91 120 4025700 
 Panmure Gordon     Katherine Roe, Adam James    +44 20 7886 2959 
 Deutsche Bank      RajatKatyal, Drew Price      +44 20 7547 8000 
                    Nick Elwes, Alexandra 
 College Hill        Roper                       +44 20 7457 2020

This information is provided by RNS

The company news service from the London Stock Exchange

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