InterOil Corporation has finalised a US$300 million syndicated, senior secured capital expenditure facility through a consortium of banks led by Credit Suisse AG.

The facility was supported by InterOil's existing banks, Credit Suisse, Commonwealth Bank of Australia, Westpac Bank, Australia and New Zealand Banking Group, Bank of South Pacific, BNP Paribas, UBS AG, Macquarie Capital Group, and new banks, The Bank of Tokyo-Mitsubishi UFJ and Societe Generale.

The facility, which has an annual interest rate of LIBOR plus 5%, matures at the end of 2015 and will fund InterOil's key capital and operating expenditure for exploration and appraisal in the Eastern Papuan Basin of Papua New Guinea.

Tags: InterOil Corporation