June 30, 2022 |
Phoenix Global Resources, a London-based oil and natural gas exploration and production company focused on Argentina, said Wednesday that it has secured $36 million in additional financing from its controlling shareholder Mercuria.
Mercuria, a Switzerland-based international commodities trader, agreed to lend the money as part of a bridge loan that carries interest at US dollar LIBOR plus 4%, Phoenix said in a securities filing.
The additional money takes the total loan to $133.5 million, it add
Argentina-focused oil company borrows $35 mln more from commodities trader Mercuria