Business
Advantage Announces Renewal of Credit Facility at $400 Million
Advantage Announces Renewal of Credit Facility at $400 Million Canada NewsWire C...
About this update from Advantage Energy Ltd
[{"type":"text","content":"\n\n\n\nAdvantage Announces Renewal of Credit Facility at $400 Million\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, May 26, 2020\n\n\n\n(TSX: AAV)\n CALGARY, May 26, 2020 /CNW/ - Advantage Oil & Gas Ltd. (\"Advantage\" or the \"Corporation\") is pleased to announce the renewal of the Corporation's existing $400 million revolving credit facility, following completion of its annual review by the syndicate of lenders.\n\n \n \n \n \n \n \n\n \nUpon closing of the previously announced sale of a 12.5% interest in the Glacier Gas Plant for $100 million in July 2020 (see Advantage news release dated April 13, 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.\nAdvantage would like to acknowledge the continued strong support from the lending syndicate of long-standing business partners.\nForward Looking Statement Advisory\nThe information in this press release contains certain forward-looking statements, including within the meaning of applicable securities laws. These statements relate to future events or our future intentions or performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as \"seek\", \"anticipate\", \"plan\", \"continue\", \"estimate\", \"demonstrate\", \"expect\", \"may\", \"can\", \"will\", \"project\", \"predict\", \"potential\", \"target\", \"intend\", \"could\", \"might\", \"should\", \"guidance\", \"believe\", \"would\" and similar expressions and include statements relating to, among other things, Advantage's focus, strategy, plans and expectations for its operations generally; Advantage's management of its capital spending plans; and the closing date of the sale of 12.5% of the Glacier Gas Plant, the associated volume commitment agreement to be entered into by the Corporation, and the benefits t...