Pacific Rubiales Energy Corp.(PRE.TO) announced the successful closing of an offering of U.S. $1 billion in senior unsecured notes at a rate of 5.12% due 2023.
The company said 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.
In connection with the offering of the Notes, the company said it has obtained approval from Peru's Banking, Insurance and Pension Funds Superintendent for registration of the Notes in Peru. With this registration, the Notes are eligible to be purchased by Peru's pension funds.
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