IslamicFinance.de

Jura Energy Corporation has announced that its wholly-owned subsidiary, Spud Energy Pty Limited ("SEPL"), has entered into a secured long term syndicated financing arrangement totalling Pakistan Rupees ("PKR") 750 million (US$7,153,500) effective December 18, 2015. The syndicate is comprised of Al Baraka Bank (Pakistan) Limited ("ABPL"), the lead arranger and JS Bank Limited ("JSBL"), a related party of Jura, with participation of PKR 500 million and PKR 250 million respectively. The Facility will carry a mark-up at the rate of 3-month Karachi Inter Bank Offered Rate ("KIBOR") (6.48% using the State Bank of Pakistan posted rate on December 29, 2015) plus 2.75%, maturing five years from the date of disbursement.