Capital Markets | Credit Facility Change
Bonterra's Lenders Make Slight Cut to Company's Credit Facility
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Bonterra Energy Corp. reported a decrease in its credit facilities.
Following the annual review of its credit facilities, Bonterra has announced amended credit facilities of a $300 million syndicated revolving credit facility (down -9% from the previous $330 million), a $40 million non-syndicated revolving credit facility (previously $50 million) and the addition of an accordion feature which allows the Company to obtain future funding of up to $40 million for opportunities outside of normal operations, such as acquisitions.
The terms of the Amended Facilities provide that the loan is revolving to April 28, 2020, with a maturity date of April 28, 2021, subject to annual review.
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