Business
Renewal of Oragroup SA Revolving Loan Facility
Renewal of Oragroup SA Revolving Loan Facility.
About this update from Savannah Energy Plc
[{"type":"text","content":"\n \nRNS Number : 7482W Savannah Petroleum PLC 13 December 2019 \n\n13 December 2019\n \nSavannah Petroleum PLC\n(\"Savannah\" or \"the Company\")\n \nRenewal of Oragroup SA Revolving Loan Facility\n \nSavannah Petroleum PLC (\"Savannah\") is pleased to announce the renewal of its €11.4 million unsecured revolving loan facility (\"the Facility\") with Oragroup SA, the West and Central Africa focused banking group. The Facility was originally signed in December 2016 and was designed for working capital and general corporate purposes. \n \nThe Facility has been renewed for a further three years and will continue to be used for the same purposes as in the original agreement. The terms of the Facility are unchanged with an interest rate of 7.5% payable on a semi-annual basis on amounts borrowed under the Facility.\n \nIsatou Semega-Janneh, CFO of Savannah Petroleum, said:\n \n\"We are extremely pleased to extend the revolving loan facility with Oragroup. It has given us substantial financial flexibility at a highly competitive rate of interest in the last three years as we have successfully carried out our multi-well Niger drilling campaign and completed the Seven Energy transaction. We thank Oragroup for their continued support and look forward to working with them in the coming years.''\n \n\n\n\n \nFor further information contact:\n \n\n\n \n\n\n\n\nSavannah Petroleum \n\n\n+44 (0) 20 3817 9844\n\n\n\n\nAndrew Knott, CEO\n\n\n \n\n\n\n\nIsatou Semega-Janneh, CFO\n\n\n \n\n\n\n\nJessica Ross, VP Corporate Affairs\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nStrand Hanson (Nominated Adviser)\n\n\n+44 (0) 20 7409 3494\n\n\n\n\nRory Murphy \n\n\n \n\n\n\n\nJames Spinney\n\n\n \n\n\n\n\nRitchie Balmer\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nMirabaud (Joint Broker)\n\n\n+44 (0) 20 7878 3362\n\n\n\n\nPeter Krens\n\n\n \n\n\n\n\nEd Haig-Thomas\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nJefferies International Limited (Joint Broker)\n\n\n+44 (0) 20 7029 8000\n\n\n\n\nTony White\n\n\n \n\n\n\n\nWill Soutar\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nNumis Securities (Joint Broker)\n\n\n+44 (0) 20 7260 1000\n\n\n\n\nJohn Prior\n\n\n \n\n\n\n\nEmily Morris\n\n\n \n\n\n\n\nAlamgi...