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Petroceltic CEO aims to close bond sale next month despite latest hold-up

Published: 07:30 04 Aug 2015 BST

Brian O’Cathain, the chief executive of Petroceltic (LON:PCI), says he is confident the firm can complete its bond issue by September despite the latest sale being shelved.

Yesterday the firm told investors that a proposed US$175mln bond issue has been put on hold temporarily due to what it describes as “volatile market conditions”.

Despite this, the oil company continues to pursue its previously announced financing strategy, and, speaking to Proactive, O’Cathain said the firm is keen to work with hedge fund Worldview - which owns 29% of Petroceltic -  and had opposed the bond issue.

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