InterOil Secures $57.5MM Loan with PNG Banks
InterOil has secured a 150 million Kina (US $57.5 million) revolving working capital facility for its wholesale and retail petroleum products distribution business in Papua New Guinea from two of that country's leading financial institutions, Bank of South Pacific Limited and Westpac Bank PNG Limited.
"We are pleased to have established this facility which will provide increased security for our working capital requirements and evidences the strong relationships and presence maintained by InterOil in Papua New Guinea," stated Collin Visaggio, Chief Financial Officer.
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