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| Home : North American Energy Partners Announces Amended and Restated Credit Facility With Existing Banking Syndicate |
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Oct 10
2013 |
North American Energy Partners Announces Amended and Restated Credit Facility With Existing Banking Syndicate |
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EDMONTON, ALBERTA--(Marketwired - Oct. 9, 2013) - North American Energy Partners Inc. ("NAEP" or "the Company") (TSX:NOA)(NYSE:NOA) today announced the signing of an amended and restated three year credit facility ("the facility") with its existing banking syndicate that is effective today, October 9. Highlights of the facility include the Company extending the credit agreement for three years, reducing its cost of debt by negotiating a 1.5% lower interest rate and increasing borrowing flexibility by securing the facility through a combination of working capital and equipment. To illustrate the negotiated reduction, if applied retroactively, the weighted average interest rate at June 30, 2013 would have decreased from 7.41% to 5.91%. |
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| Source:http://www.marketwired.com/mw/release.do?id=1839766&sourceType=3 |
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