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New Horizon after Mallesons advice

New Horizon after Mallesons advice

Mallesons Stephen Jaques has advised Australian oil and gas producer Horizon Oil Limited on its $US80 million convertible bond issue which will help fund the company's acquisition of an oil…

Mallesons Stephen Jaques has advised Australian oil and gas producer Horizon Oil Limited on its $US80 million convertible bond issue which will help fund the company's acquisition of an oil block in Beibu Gulf, offshore of southern China.

The bonds are to be listed on the Singapore Stock Exchange and have been issued to a broad spectrum of institutional investors chiefly in Europe and the Asia Pacific.

The acquisition will increase Horizon's net reserves in the block to 11.3 million barrels of oil equivalent, from 6.2 million barrels currently, reported The Australian.

The Mallesons team was led by partner Craig Rogers, senior associates Leigh Cooper and Rhys Casey and senior solicitor Horace Wu. Senior associate Chris Taylor worked with Rogers on the acquisition side.

"Horizon's acquisition represented a logical strategic transaction for the company," said Rogers.

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