SepuraKencana raises $527 million to fund acquisition

Strong demand allows the Malaysian oil and gas services provider to replace two planned placements with a single larger one at a 10% discount to the latest close.

Malaysian oil and gas services and solutions provider SepuraKencana Petroleum has raised M$1.64 billion $527 million from a private placement of new shares, which it will use to fund the earlier announced acquisition of the tender rig business owned by its long-term Norwegian partner Seadrill.

The outcome of the deal was announced during the lunch break on Wednesday, but according to a source, the bookrunners have been talking to potential investors for some time....

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