Nabarro advises Dominion Petroleum on issue of US$45m in convertible loan notes
11 October 2007
Nabarro has advised AIM-listed Dominion Petroleum Limited on the issue of convertible loan notes to raise US$45 million, by its subsidiary, Dominion Petroleum Acquisitions Limited. The loan notes have an interest rate of 8.50 per cent per annum and are repayable in full on 2 October 2011. The interest rate may be adjusted depending on the amount raised pursuant to the proposed equity fundraising to be undertaken prior to 31 December 2007.
Dominion is an independent energy company domiciled in Bermuda and dedicated to exploration for new oil and gas reserves in East and Central Africa. The Group was founded in 2004 and listed on the AIM market of the London Stock Exchange in December 2006.
The corporate team at Nabarro was led by corporate partner Iain Newman, assisted by associate Kristy Duane. Dominion’s US legal advisors were Hunton & Williams. The noteholders were represented by Carl Sheldon and Christina Leto of Allen & Overy.
Iain Newman, corporate partner, said:
"Nabarro acted for Dominion Petroleum Limited on its IPO on AIM in December 2006, and have enjoyed working with them again on this recent deal. We look forward to building on our existing relationship as they continue with their growth strategy."
If you would like any further information or have any queries please contact:
Charlotte Tandy
Lanson Communications
T +44 (0)20 7566 9706
charlottet@lansons.com
or
Iain Newman
Partner, Nabarro
T +44 (0)20 7524 6423
i.newman@nabarro.com
