Capital Markets
Trilogy Energy's Borrowing Base Set at $300 Million
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Trilogy Energy Corp. reported that following its semi-annual borrowing base review, certain amendments to the Company's existing credit facility agreement with its syndicated group of lenders have been agreed to, including the following:
The borrowing base has been re-determined at $300 Million; The maturity date has been extended from April 30, 2017 to April 30, 2018; The calculation of the consolidated debt to EBITDA covenant has been suspended until June 30, 2017, at which time the covenant will be 6.75:1, scaling down quarterly to 4.0:1 at December 31, 2018; The senior debt to EBITDA covenant has been increased to: 3.5 for fiscal quarters ending March 31, 2016 and June 30, 2016; 4.5 for fiscal quarters ending September 30, 2016, December 31, 2016 and March 31, 2017; 3.75 for fiscal…- ✓ Full news archive — U.S., Canada & international coverage
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