PGNiG Upstream International secures $400 million financing

Region:

Europe

Jonathan Bell

PGNiG Upstream International (PUI), a subsidiary of Polish oil and gas group PGNiG, has signed a $400 million credit facility agreement with eight international banks. The main use of proceeds from the facility will be the early repayment of some of PUI’s outstanding debt, including the entire debt contracted to finance the acquisition of assets from Total E&P Norge in 2014.

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