Penn West Petroleum Ltd. - 2014-05-06

The unsecured revolving bank facility was renewed. Its borrowing capacity was lowered from $3 billion. The facility has two tranches. The first will mature May 6, 2019 and the second will mature June 30, 2016. The second provided a $500 million borrowing limit. A syndicate of Canadian and international banks, co-led by Canadian Imperial Bank of Commerce and Bank of Montreal, handled the renewal.