First priority pledges over the Escrow Account and the Bond Escrow Account, Debt Service Retention Accounts, Machinery Asset Mortgage
Use of Proceeds
The Net Proceeds will be applied to: a) funding the Debt Service Reserve Account; b) refinancing the Existing Bonds in full (including payment of call premium and interest); c) financing capital expenditures relating to the development of the Khor Mor and Chemchemal Fields; and d) the surplus (if any), for general corporate purposes of the Group