March 14, 2018 / 6:21 AM / a year ago

Norwegian oil firm Point Resources raises $250 mln in bond issue

OSLO, March 14 (Reuters) -

** HitecVision-backed oil firm Point Resources has raised $250 million via a senior unsecured bond issue, with maturity on September 2024, the company said in a statement late on Tuesday

** The bond issue further increases the company’s liquidity buffer, enhances investment capacity and diversifies funding sources, CFO Thomas Bjoergo said

** The company did not release details on the pricing of the bond

** DNB, Pareto Securities and SpareBank1 Markets served as joint lead managers and bookrunners

** Point Resources aims to become a leading, independent player on the Norwegian Continental Shelf. It targets production of more than 150,000 boepd by the mid-2020s (Reporting by Terje Solsvik)

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