Petrus Resources announces 2nd term that is lien expansion, expansion to credit center and 3rd quarter 2020 capital spending plan

Petrus Resources announces 2nd term that is lien expansion, expansion to credit center and 3rd quarter 2020 capital spending plan

16, 2020 Globe Newswire july

CALGARY, Alberta – Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is very happy to announce the concurrent extension of the 2nd lien term loan (“Term Loan”) and Revolving Credit center (“RCF”) in addition to conclusion associated with the RCF loan providers’ 2020 review that is annual. The Company’s board of directors in https://speedyloan.net/personal-loans-vt addition has authorized its 3rd quarter 2020 money spending plan.

SECOND LIEN TERM LOAN EXTENSION Petrus has entered into an amending contract with Macquarie Bank restricted to extend the $35 million Term Loan maturity date to July 31, 2021. The attention price regarding the Term Loan balance will soon be updated to be the Canadian Dealer Offered Rate (“CDOR”) plus 975 basis points. Every one of the interest will soon be created by means of paymentinkind (“PIK”) and put into the outstanding stability associated with the Term Loan in place of payment per month of money interest. Continuar lendo Petrus Resources announces 2nd term that is lien expansion, expansion to credit center and 3rd quarter 2020 capital spending plan