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Delphi Scales Back 2015 Operations
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Delphi Energy Corp. has provided the following update.
Credit FacilitiesDelphi's lenders (National Bank of Canada, Bank of Nova Scotia and Alberta Treasury Branches) have completed their semi-annual review of the Company's senior credit facility resulting in a $20.0 million increase in the facility to $190.0 million. The increase to the credit facility will be effective December 18, 2014. All other terms of the credit facility remain unchanged.
The Company has also agreed to an extension of terms with the holder of its $20.0 million subordinated credit facility. The renewed subordinated credit facility will carry an interest rate of 10.5 percent, payable monthly, with the maturity date extended to June 30, 2016. All other terms of the facility remain unchanged other than the debt to…
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