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Advantage Oil & Gas Ltd. has reported a change to its credit facility.
The company's lenders have cut the facility from $400MM to $350MM - a decrease of 13%.
However, the pending $100MM sale of Advantage's Glacier Gas Plant interests will help to cushion the decrease in total credit.
Upon closing of the previously announced sale of a 12.5% interest in the Glacier Gas Plant for $100 million in July 2020, Advantage and the lending syndicate have agreed to adjust the revolving credit facility to $350 million, resulting in a significant net increase in liquidity and further strengthening of the balance sheet.
Related Categories :
Credit Facility Change
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