Brief: Canacol Energy Ltd. Announces Closing Of New Credit Agreements

Canacol Energy (Alberta)

04/08/2020 12:40

Canacol Energy Ltd  CNE.TO :
    * CANACOL ENERGY LTD. ANNOUNCES CLOSING OF NEW CREDIT
AGREEMENTS
    * CANACOL ENERGY - ON JULY 31, 2020, ENTERED INTO $46
MILLION
SENIOR UNSECURED REVOLVING CREDIT FACILITY WITH A SYNDICATE OF
BANKS
    * CANACOL ENERGY LTD - TERMS OF RCF INCLUDE AN INTEREST RATE
OF
LIBOR + 4.75%, A 3-YEAR TERM
    * CANACOL ENERGY LTD - RCF WILL NOT BE SUBJECT TO TYPICAL
PERIODIC
REDETERMINATIONS
    * CANACOL ENERGY LTD - ON JULY 31, UNIT OF CORPORATION
ENTERED
INTO A $75 MILLION SENIOR UNSECURED BRIDGE TERM LOAN WITH
SYNDICATE OF BANKS
    * CANACOL ENERGY - TERMS OF BRIDGE INCLUDE INTEREST RATE OF
LIBOR
+ 4.25%, 2-YEAR TERM, CO'S ABILITY TO REPAY BRIDGE AT ANY TIME
WITHIN TERM WITHOUT PENALTY

Source text for Eikon:  ID:nGNX1sp1B9 
Further company coverage:  CNE.TO