Bonterra's Credit Facility Renewed at $380MM

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   |    Thursday,April 20,2017

Bonterra Energy's credit facilities were renewed and maintained at $380 million.

The facilities are comprised of a $330 million syndicated revolving credit facility, and a $50 million non-syndicated revolving credit facility. Within the credit facilities, the term loan is revolving to April 30, 2018 with a maturity date of April 30, 2019 and is subject to annual review.

At December 31, 2016, the facilities amounts drawn were $329 million. The Company has sufficient liquidity and financial flexibility to continue to execute its business plan. When funds flow exceeds capital spending and dividends, Bonterra will continue to reduce its bank debt.

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