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Bonterra Announces New $110 million First Lien Credit Facility; $95 million Term Debt Financing; Repayment of $47 million BDC Term Facility; and Provides Strategic Outlook
Bonterra Announces New $110 million First Lien Credit Facility; $95 million Term Debt Fin...
About this update from Bonterra Energy Corp.
[{"type":"text","content":"\n \n \n \n Bonterra Announces New $110 million First Lien Credit Facility; $95 million Term Debt Financing; Repayment of $47 million BDC Term Facility; and Provides Strategic Outlook\n \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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; FONT-SIZE: 8PT; FONT-FAMILY: ARIAL; COLOR: BLACK; MARGIN:0em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Nov. 25, 2022\n \n \n /CNW/ - Bonterra Energy Corp. (\n \n www.bonterraenergy.com\n \n ) (TSX: BNE) (\"Bonterra\" or the \"Company\") is pleased to announce the completion of the restructuring of the Company's debt capitalization through the closing of two new credit facilities (the \"New Credit Facilities\"). The New Credit Facilities are comprised of (i) a\n \n $110 million\n \n first lien secured credit facility (the \"First Lien Facility\"); and (ii) a\n \n $95 million\n \n second lien secured term debt facility (the \"Term Debt Facility\"). Simultaneously with the closing of the New Credit Facilities, the Company has fully repaid its\n \n $47 million\n \n Business Development Bank of\n \n Canada\n \n (\"BDC\") Term Facility.\n \n \n \n FIRST LIEN CREDIT FACILITY\n \n \n \n On\n \n November 25, 2022\n \n , the Company closed on its new First Lien Facility, totaling\n \n $110 million\n \n . The new First Lien Facility has been syndicated among three supportive banks and is restructured as a normal course, reserve-based credit facility available on a revolving basis through\n \n October 31, 2023\n \n , with bi-annual borrowing base redeterminations and a term maturity of\n \n October 31, 2024\n \n .\n \n \n \n FOUR-YEAR TERM DEBT FACILITY\n \n \n \n Also, on\n \n November 25, 2022\n \n the Company...