PA Resources Contemplates Issuing New Bond Loan

PA Resources AB is contemplating issuing a new unsecured bond loan of NOK 300 - 500 million.

The total amount of the new bond loan will be a minimum of NOK 300 million and a maximum of NOK 500 million (equivalent to approximately SEK 369 - 615 million). The new unsecured bond loan will have a maturity date in March 2011.

"The net proceeds of the bonds will be used for general corporate purposes as well as to refinance the existing bond loan which expires in March 2010," said Bo Askvik, Executive Vice President and CFO of PA Resources AB.

Fearnley Fonds ASA and Pareto Securities AS have been appointed as Managers for the new bond issue.