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| Home : Rooster Energy Ltd. Expands and Extends Credit Facility With Issuance of US$60 Million of Senior Secured Notes Due 2018 |
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Jun 26
2015 |
Rooster Energy Ltd. Expands and Extends Credit Facility With Issuance of US$60 Million of Senior Secured Notes Due 2018 |
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CALGARY, ALBERTA--(Marketwired - June 25, 2015) - ROOSTER ENERGY LTD. (or the "Company") (www.roosterenergyltd.com) (TSX VENTURE:COQ) is pleased to announce that effective June 25, 2015 it expanded and extended the term of its existing credit facility by entering into an amended and restated Note Purchase Agreement and issuing senior secured notes in the amount of US$60 million (the "Notes"). The Notes will be due on June 25, 2018. The proceeds of the Notes will be used to: 1) repay existing senior secured debt in the principal amount of US$45 million, plus accrued interest and closing costs; 2) fund the Company's development drilling program; and 3) provide for working capital and other general corporate purposes. |
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| Source:http://www.marketwired.com/mw/release.do?id=2033377&sourceType=3 |
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