"The facility has a 7-year term (with 4-year repayment holiday) and is priced at a margin of 7.75% over LIBOR. Undrawn facility amounts will attract a Commitment Fee of 40% of the margin. The banks’ underwriting is subject to the successful conclusion of pre-placement market soundings."
Could this mean that FAR only need to start paying interest on drawdowns when it's already earning income with first oil being 3 years away? If so, then not bad at all..MyFok
Ann: Sangomar FID and US$300M underwritten senior facility, page-25
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