Capital Markets | Credit Facility Change
Yangarra's Credit Line Confirmed at $210MM; 93% Currently Drawn
Yangarra Resources Ltd. has completed its annual borrowing base review and the syndicated senior credit facility has been confirmed at $210 million.
Currently, Yangarra has drawn approximately $195 million from the facility (or 93%).
The term out date has been extended to May 28, 2021 and the maturity date has been extended to May 28, 2022. All free cash flow will be devoted to debt repayment.
Capital spending decisions will continue to be determined by full cycle rates of return with a threshold of US$40/bbl WTI for completions and US$45/bbl WTI for drilling.
The Company’s banking syndicate is led by Alberta Treasury Branches and includes Canadian Imperial Bank of Commerce and National Bank of Canada.
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