Coastal Energy gets $80 million credit facility led by BNP Paribas

By Sara Rosenberg

New York, Sept. 27 - Coastal Energy Co. closed on a new $80 million senior secured revolving credit facility, according to a news release.

BNP Paribas and Commonwealth Bank of Australia provided the new deal, with BNP the lead.

Security is the company's 12.6% interest in the Sinphuhorm gas field onshore Thailand and the Songkhla field in the Gulf of Thailand.

Proceeds were used to refinance existing debt and will be available to fund development of the company's offshore assets.

Coastal Energy is a George Town, Cayman Islands-based exploration and production company.

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