Gulf Keystone~ (GKP) – Bond Offering looks quite generous
The independent oil and gas exploration and production company focused on exploration in the Kurdistan Region of Iraq has announced a bond offering of $250m priced with a semi annual coupon at 5.875%-6.625%.
This announcement was anticipated as further funding is needed to support the development of Shaikan and get production up to the target 150,000bpd by 2015 – a lot of water to flow before then!