Turkiye Petrol Rafinerileri (Tupras) intends to raise $700m through the issue of 4.5% notes to qualified institutional buyers in a private placement.
The notes will yield a semi-annually payable coupon rate of 4.5% a year until their maturity on 18 October 2024.
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Tupras has appointed Citigroup Global Markets, HSBC Holdings, J.P. Morgan Securities and Standard Chartered Bank as book-running managers for the placement.
The proceeds from the issue are intended to be used by the company to redeem or pay interest on its 4.125% notes, due 2 May 2018.
The private placement is scheduled for completion on 18 October.
Pulse Oil, through a joint venture with a private company (Pulse JV), has agreed to dispose 50% interest in Bigoray Nisku-F pool assets in Alberta, Canada, to a public oil and gas company in exchange for a 75% stake in the Bigoray Nisku-D Pool assets in Alberta.
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By GlobalDataScheduled for completion on 19 October, the transaction will enable Pulse JV to hold 100% stake in the Bigoray Nisku-D and Nisku-E Pool acreages.
Pulse Oil has concurrently agreed for a $3.29m acquisition of the remaining interest in Nisku-D pool and the Nisku-E pool acreage in Alberta from Pulse JV.
Source Energy Services has agreed to the acquisition of Preferred Proppants’s frac sand assets located in the US and Canada for $80m.
The purchase consideration will be funded by Source Energy through a $25.1m-bought deal equity financing, a $65m private placement, and its credit facilities.
The assets include a Northern White proppant mine located in Blair, Wisconsin, US, and two frac sand terminals located in Chetwynd and Fort Nelson in British Columbia, Canada.
The transaction also involves the transfer of certain exploration rights on the sand deposit across 3,600 acres in the Peace River Valley of Alberta.
Source Energy has appointed Bank of Nova Scotia as financial advisor and Norton Rose Fulbright Canada as legal advisor for the transaction.
Scheduled for completion by 7 November, the transaction will allow Source Energy to strengthen its service portfolio.
Earthstone Energy intends to dispose of certain non-operated oil and gas properties located in McKenzie and Dunn counties of North Dakota, US.
The transaction includes the sale of Bakken and Three Forks shale properties across 37,120 gross acres comprising 18 drilled wells (uncompleted) and 14 permitted wells.
Earthstone Energy has appointed TenOaks Energy Advisors for the divestment of the assets.
The offer is scheduled for closure on 31 October.
Venture Global LNG has successfully raised $108.6m through a private placement.
Morgan Stanley & Co. and Goldman Sachs & Co. were the financial advisors for the placement.
The proceeds from the placement are intended to be used by the company to fund its development of proposed LNG export facilities in Louisiana, US.
