Jubilant Energy secures $1.56m loan facility

A subsidiary of oil and gas explorer Jubilant Energy has signed a funding arrangement for an unsecured loan facility of around $1.56m.

The loan, arranged with Jubilant Enpro Private, has a seven-year tenor and an annual interest rate of 14%.

The funds will be used towards funding the capital, operating and other general corporate expenditure.

Its share price has climbed 8.34% to 3.25p by 08:58.