Faroe to is­sue $100m of bonds ahead of sell off

The Daily Telegraph - - Business -

Faroe Petroleum plans to raise $100m (£76m) in five-year bonds to bol­ster its bal­ance sheet as it en­ters talks to sell a stake in its grow­ing North Sea port­fo­lio. The oil min­now, which was one of the few to emerge from the mar­ket down­turn cash rich and debt free, said it wanted fi­nan­cial flex­i­bil­ity rather than a war chest.

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