Maha Energy to launch bond Wednesday, seen at 10%-14% with warrants

New York, May 16 – Maha Energy AB plans to launch formal marketing of a Swedish krona senior secured bond issue on Wednesday, according to a news release.

The company said it has received “strong investor demand” during pre-marketing.

Discussions have been held with investors for an offering with a coupon of 10% to 14% and detachable warrants.

Maha Energy announced the debt financing in February, saying it planned to raise SEK 300 million to SEK 350 million.

Proceeds will be used to acquire the Brazil business unit of Gran Tierra Energy Inc. for $35 million in cash.

Stockholm-based Maha Energy offers oil and gas exploration and production services.

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