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Twin Butte's Facility Amended to $225MM; Talks Strategic Review
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Twin Butte Energy Ltd. announced amendments to the Company's bank credit facilities and provided an operational update.
Twin Butte has finalized the semi-annual review of its bank credit facility with its bank syndicate. The Company's total credit facilities have been amended to $225 million , consisting of a $115 million revolving syndicated facility, a $25 million operating facility, and an $85 million non-revolving credit facility. Currently, the Company has approximately $207 million drawn on the bank credit facilities.
The revolving syndicated facility and the operating facility, which comprise the Company's borrowing base facilities, are reviewed semi-annually and are due on May 26, 2017 , unless extended at the Company's request with consent of the lenders. The non-revolving credit…
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