Yangarra Increases Syndicated Credit Facility to $120 million
17 November 2017 - 12:30AM
PR Newswire (Canada)
CALGARY, Nov. 16, 2017 /CNW/ - Yangarra
Resources Ltd. ("Yangarra" or the "Company") (TSX:YGR)
has increased the syndicated senior credit facility to $120 million. The banking syndicate is led
by Alberta Treasury Branches and includes Canadian Imperial Bank of
Commerce and National Bank of Canada.
The facility is now comprised of a $110
million extendible revolving term credit facility and a
$10 million operating facility.
All other commercial terms remain the same with the next borrowing
base review scheduled for May 31,
2018.
The increased facility allows Yangarra to shift capital
spending, as necessary, from Q1 2018 into Q4 2017 to efficiently
take advantage of drilling & completion services.
All reference to $ (funds) are in Canadian dollars.
Neither the TSX nor its Regulation Service Provider (as that
term is defined in the Policies of the TSX) accepts responsibility
for the adequacy and accuracy of this release.
SOURCE Yangarra Resources Ltd.
Copyright 2017 Canada NewsWire
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