Finance & Investing | Debt | Fundraising | Capital Markets
Rock Energy Reports Changes to Credit Facility
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Rock Energy Inc. announces that in light of recent industry conditions, Alberta Treasury Branches has rescinded its agreement to implement the syndicated credit facilities announced on December 10, 2015.
As a result, Rock will maintain its existing credit facilities with its current lender. The Current Credit Facilities provide for a borrowing base of $75 million with an agreement by the Corporation to cap drawn balances to $65 million. The Current Credit Facility is being reviewed by the existing lender.
Rock is forecasting total net debt at year end 2015 of $60 million, which is below the availability under the Current Credit Facility.
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