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Bonterra Energy Corp. announces that following a semi-annual review of its credit facilities that its borrowing base has been cut a mere 10% from $425 to $380.
Debt facility is comprised of a $330 million syndicated revolving credit facility, and a $50 million non-syndicated revolving credit facility. The revolving period on the facilities expires on April 30, 2017.
As at May 31, 2016, Bonterra had approximately $340 million drawn on the revised $380 million credit facilities.
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