Petroceltic Inks $500M Gas Project Funding Deal

Law360, New York (April 16, 2013, 5:48 PM EDT) -- Irish oil and gas company Petroceltic International PLC will expand its North African and Black Sea-area natural gas operations after securing $500 million in funding from the International Finance Corp. and a group of commercial banks, it announced Monday.

Under the terms of the funding agreement, the IFC — a unit of the World Bank Group that promotes development through the financing of private industry — will extend a $100 million direct loan to Petroceltic, while the remaining $400 million will come from a consortium of...
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