Resource News

Canacol Energy Ltd (TSX:CNE, BVC:CNEC) announced that it has entered into a credit agreement in the amount of US $140 million senior secured 5-year loan with a group of banks led by Credit Suisse along with Citibank, Corpbanca, and Export Development Canada.

Canacol Energy Ltd (TSX:CNE, BVC:CNEC) announced that it has entered into a credit agreement in the amount of US $140 million senior secured 5-year loan with a group of banks led by Credit Suisse along with Citibank, Corpbanca, and Export Development Canada.

As quoted in the press release:

Proceeds from the term loan will be used for: a) repayment of principal (US$ 45 million) and accrued interest outstanding under the Corporation’s existing term loan used for the acquisition of Shona Energy Company, Inc.; b) repayment of principal (US$ 31.1 million) and accrued interest outstanding under the Corporation’s existing syndicated credit facility led by Scotiabank; c) future capital expenditures related to development activities in Colombia and Ecuador; and d) costs of the transaction and for other general corporate purposes.

Click here to read the full Canacol Energy Ltd (TSX:CNE, BVC:CNEC) press release.

MARKETS

Markets
TSX19078.64-144.10
TSXV626.34-18.57
DOW31029.31+82.32
S&P 5003818.83-2.72
NASD11177.89-3.65
ASX6763.60+57.60

COMMODITIES

Commodities
Gold1817.60-0.97
Silver20.77-0.05
Copper3.77-0.01
Palladium1963.50+94.50
Platinum919.00+9.01
Oil109.63-2.13
Heating Oil3.96-0.16
Natural Gas6.42-0.15

DOWNLOAD FREE REPORTS

×