Well done Sino Gas & Energy Holdings Limited (ASX: SEH) (“Sino Gas”) on executing documentation for its structured debt facility with Macquarie Bank for up to $US50 million. Argonaut acted as financial and corporate adviser to Sino Gas.
Commenting on the completed facility agreement Gavin Harper, Chairman of Sino Gas, said: “With US$57 million in cash as at the end of the June quarter and the Facility of up to US$50 million, Sino Gas is well positioned to fund its development share of the PSCs towards early production”.
Proceeds will be used towards the funding of Sino Gas' share of costs associated with the company's stake in the Linxing Production Sharing Contract (PSC) and the Sanjiaobei PSC (held under the Sino Gas and Energy Limited Joint Venture), located in the Ordos Basin, Shanxi Province, People’s Republic of China.
Additional information regarding the Company and the Facility Agreement can be found on the company’s website at www.sinogasenergy.com.