Regency Petroleum Raises US$1.4Mn Via Privately Placed Offer

  • Regency Petroleum Co. Limited (RPL) has advised that it has privately placed, by way of an exempt distribution, US$1.4Mn in Secured Notes Due 2025 – arranged by GK Capital Management Limited.
  • The US$ Fixed Rate Secured Notes will be issued in two tranches with Tranche A amounting to US$600,000 issued as of June 30, 2023, and Tranche B amounting to US$800,000 and expected to be drawn down on or before September 29, 2023.
  • The proceeds from this debt raise will be used to construct a service station located on Spanish Town Road.
  • Regency Petroleum noted that the funds will be used to build a service station on Spanish Town Road. This is part of the company’s strategy of securing prime locations across the island, which is expected to translate to greater auto fuel sales and improved shareholder value.

(Source: JSE)