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| Home : Lightstream Announces $90 Million Debt Reduction and $250 Million Increase in Credit Availability Through Secured Note Issuance |
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Jul 03
2015 |
Lightstream Announces $90 Million Debt Reduction and $250 Million Increase in Credit Availability Through Secured Note Issuance |
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CALGARY, ALBERTA--(Marketwired - July 2, 2015) - Lightstream Resources Ltd. (the "Company" or "Lightstream") (TSX:LTS) announces that we have entered into a privately negotiated agreement to issue a total of US$395 million in second lien notes ("Secured Notes") in exchange for US$465 million of existing 8.625% unsecured senior notes due 2020 ("Unsecured Notes") which will be cancelled. We have also agreed to issue to the same parties, with an expected closing in mid-July, an additional US$200 million in Secured Notes for cash proceeds, which we will use to reduce the borrowing amount under our credit facility. The borrowing base under our credit facility is unchanged at Cdn$750 million. RBC Capital Markets, LLC acted as our financial advisor in connection with these transactions. |
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| Source:http://www.marketwired.com/mw/release.do?id=2035306&sourceType=3 |
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