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Staatsolie to raise $250 mln, 50 mln euros through bonds maturing in 2033
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Staatsolie to raise $250 mln, 50 mln euros through bonds maturing in 2033
Jan 31, 2025 6:59 AM

PARAMARIBO, Jan 31 (Reuters) - Suriname's state-owned

energy company Staatsolie on Friday launched a new offer of debt

bonds maturing in 2033, hoping to raise $250 million and 50

million euros ($52 million) to fund its participation in a key

project off the country's coast, the company said.

The company needs to raise some $2.4 billion through

different financing mechanisms, including up to $1.5 billion in

bank loans, to secure a 20% stake in Block 58, being developed

by France's TotalEnergies and U.S. firm APA Corp ( APA )

.

The flagship $12 billion Gran Morgu project is expected to

inaugurate offshore oil and gas output in Suriname, with first

production expected in 2028.

The bonds on offer have fixed interest rates of between

7.25% and 7.75%, with payments starting in September, said

Staatsolie's finance director, Agnes Moensi, during the launch.

"Every dollar more raised in bond, means a dollar less in

the bank loan," she said.

The company's overall investment plan includes up to $3.49

billion for onshore, offshore, refining and power projects

through 2033.

($1 = 0.9643 euros)

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