(Alliance News) - Vivo Energy PLC said Thursday it is offering USD350 million in senior notes, the proceeds from which will go towards repaying several facilities and for general corporate purposes.
The notes will have a maturity of five years or seven years, and are guaranteed on a senior unsecured basis by Vivo Energy.
The notes are expected to be given a Baa3 rating by Moody's Investors Services, and BB+ by S&P and Fitch.
Shares in Vivo Energy were up 2.5% at 74.9 pence in London, while its Johannesburg shares were 6.0% higher at ZAR17.40 on Thursday.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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