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

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

July 16, 2020 World Newswire

CALGARY, Alberta – Petrus Resources Ltd. (“Petrus” or even the “Company”) (TSX: PRQ) is very happy to announce the concurrent expansion of the 2nd lien term loan (“Term Loan”) and Revolving Credit center (“RCF”) as well as the conclusion associated with the RCF loan providers’ 2020 review that is annual. The Company’s board of directors has additionally authorized its 3rd quarter 2020 money spending plan.

2ND 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 31, 2021 july. The attention price on the Term Loan balance will likely to be updated in order to www.speedyloan.net/personal-loans-tn become the Dealer that is canadian Offered (“CDOR”) plus 975 foundation points. All the interest will likely to be created by means of paymentinkind (“PIK”) and included with the outstanding stability associated with the Term Loan in place of payment per month of cash interest. Read more