Sterling Resources Ltd. Bonds, 9% 30apr2019, USD (NO0010675671)

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Domestic bonds, Variable rate, Foreign bonds, Payment-in-kind

Status

Early redeemed

Amount

225,000,000 USD

Placement

***

Early redemption

*** (-)

ACI on

Country of risk

Canada

Current coupon

Price

Yield / Duration

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Placement amount

225,000,000 USD
Face value

1 USD
ISIN

NO0010675671
CFI

DBVSBR
FIGI

BBG004F54SY0
Ticker

SLGCN 9 04/30/20

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Final Terms

Final Terms

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Bond is not traded; the issue is redeemed

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Issue information

Profile

Sterling Resources Ltd. is a Calgary based, publicly traded, energy company engaged in the exploration, development and production of crude oil and natural gas in selected areas of the world.

Research report by Cbonds-PRAAMS

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Issuer

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Sterling Resources Ltd.
Full borrower / issuer name

Sterling Resources Ltd.
Sector

Corporate
Industry

Oil and Gas Extraction and Refining

Volume

Placement amount

225,000,000 USD

Face value

Minimum Settlement Amount

1 USD
Face value

1 USD
Outstanding face value

*** USD
Increment

*** USD

Cash flow parameters

Reference rate

***

Coupon Rate

***

Day count convention

***

Interest Accrual Date

***

Coupon frequency

*** time(s) per year
Payment currency

***
Maturity date

***
Early redemption date

***

Cash flow

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Early redemption terms

***

Debt Servicing

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900 000

bonds globally

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pricing sources

80 000

stocks

116 000

ETF & Funds

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Why

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Placement

Placement method

Open subscription
Placement type

Public
Placement

***
Geographic breakdown

***
Investor breakdown

***
Use of proceeds

General Corporate Purposes
Refinance
Investment
Use of proceeds description

The net proceeds from the Bond Issue (net of legal costs, fees of the Manager and the Trustee and any other agreed costs and expenses) shall be applied to (i) refinance the outstanding amount under the existing GBP 105 million senior secured credit facility dated 19 July 2011 (the “Existing Credit Facility”), expected to be equivalent to approximately USD 140.6 million including accrued interest and related obligations, (ii) finance the Issuer’s share of the costs associated with the development of Phase I and Phase II of the Breagh Field (the “Breagh Field Development Costs” (as defined below)), (iii) funding of an amount equal to one interest payment payable hereunder to the Debt Service Retention Account (as described in the Bond Agreement), and (iv) general corporate purposes up to an amount of USD 20 million, including partial repayment of an existing loan from the Parent.

Conversion and exchange

Conversion terms

***

Similar issues

Identifiers

ISIN

NO0010675671
Cbonds ID

296803
CUSIP

***
CUSIP 144A

***
CFI

DBVSBR
FIGI

BBG004F54SY0
WKN

A1HJ0X
Ticker

SLGCN 9 04/30/20
Type of security by CBR

***

Bond classification

Rank: Undefined
Registered
Coupon bonds
Amortization
Variable rate
Foreign bonds
Payment-in-kind
Callable
CDO
Convertible
Dual currency bonds
For qualified investors (CIS region)
Green bonds
Guaranteed
Inflation-linked principal
Supranational bond issues
Inflation-linked coupon
Mortgage bonds
Non-complex financial instruments (MiFID)
Perpetual
Non-Marketable Securities
Redemption Linked
Restructuring
Retail bonds
Covered
Securitization
Structured product
Commercial Bonds
Subordinated
Sukuk
Trace-eligible

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Restructuring

***