Athabasca Oil Corp.
Description
Announced plans, conditional upon completion of a recent offering and redemption of 2022 notes, to enter into an amended and restated credit agreement with a syndicate of financial institutions that will provide for a CA$110 million reserves-based secured credit facility with a maturity date in October 2023. The company maintains its CA$40 million unsecured letter of credit facility that is supported by a performance security guarantee from Export Development Canada.