Brief: Gear Energy Announces Completion Of Borrowing Base Redetermination

Gear Energy

10/07/2020 21:27

July 10 (Reuters) - Gear Energy Ltd  GXE.TO :
    * GEAR ENERGY LTD. ANNOUNCES COMPLETION OF BORROWING BASE
REDETERMINATION
    * GEAR ENERGY LTD - SYNDICATED CREDIT FACILITIES HAVE BEEN
CONFIRMED AT $75 MILLION WITH A MATURITY DATE OF MAY 28, 2021
    * GEAR ENERGY LTD - NEXT BORROWING BASE REDETERMINATION DATE
HAS
BEEN SET FOR AUGUST 31
    * GEAR ENERGY LTD -  PROTECTING STRENGTH OF CORPORATE
BALANCE
SHEET AND WILL REMAIN TOP PRIORITY
    * GEAR ENERGY LTD - FORECASTING A MATERIAL REDUCTION IN
OUTSTANDING NET DEBT THROUGH COURSE OF 2020
    * GEAR ENERGY LTD - ESTIMATES CO WILL MAINTAIN AMPLE
LIQUIDITY
UNDER NEW CREDIT STRUCTURE

Source text for Eikon:  ID:nCNWHXWtVa 
Further company coverage:  GXE.TO 

 (Reuters.Briefs@thomsonreuters.com)