November 14, 2019 / 4:56 AM / a month ago

REFILE-Australia's FAR appoints Macquarie to arrange $350 mln loan facility

(Corrects spelling of “Macquarie” in headline)

Nov 14 (Reuters) - Australia’s FAR Ltd has appointed Macquarie Bank Ltd as the arranger and manager of the syndication of a $350 million debt facility to develop the SNE oil field off Senegal, the company said in a statement on Thursday.

FAR currently owns 15% of the project, although its stake will reduce to 13.67% if the Senegal government exercises an option to increase its stake in the venture, which is operated by Woodside Petroleum Ltd. (Reporting by Anushka Trivedi in Bengaluru; Editing by Christian Schmollinger)

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