Dr. Thorsten Kuthe, Partner at the Cologne office of commercial law firm Heuking Kühn Lüer Wojtek, led a team to legally advise Deutsche Oel und Gas group (DOG) on issuing a corporate bond.
The subscription period for the total of 100,000 partial debentures started on November 7, 2014 and is expected to end on January 15, 2015. Interest yield is 4.75 percent annually. The issuer aims at generating proceeds of EUR 100 million.
Deutsche Oel und Gas AG is the holding company of a group focused on the production of natural gas and crude oil in the Cook Inlet basin in the U.S. state of Alaska. Via its subsidiaries, the company has mineral lease rights for the production area Kitchen Lights Unit in Cook Inlet in Alaska. With its subsidiary Furie Operating Alaska, it has its own drilling and production company.
Issue proceeds generated from the bond are to serve among other things the construc-tion of the drilling platform, pipelines, and processing plant as well as additional invest-ments and financing repayment.
Counsel to Deutsche Oel und Gas AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead),
Felicitas Boehm (all Capital Markets),
Dr. Lutz Martin Keppeler (both IP, Distribution Law), all Cologne
Dr. Kai Erhardt (Finance), Hamburg