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CALGARY, ALBERTA--(Marketwired - April 26, 2013) - Peyto Exploration and Development Corp. ("Peyto" or "the Company") (TSX:PEY) is pleased to announce that its syndicate of lenders, led by Bank of Montreal, and including Union Bank Canada Branch, Royal Bank of Canada, Canadian Imperial Bank of Commerce, Toronto-Dominion Bank, Scotiabank, HSBC Bank Canada, Alberta Treasury Branch, and Canadian Western Bank has expanded the Company's revolving credit facility from $730 million to $1.0 billion. This expanded, unsecured, covenant based credit facility has a two- year term and contains the same financial covenants as the previous secured revolver. In addition, the note purchase agreements for the $150 million of senior secured notes that were issued pursuant to a private shelf agreement with Prudential Investment Management Inc., has been amended to reflect the removal of the security. |
