Petrus Resources announces second lien term loan expansion, extension to credit center and 3rd quarter 2020 money budget

Petrus Resources announces second lien term loan expansion, extension to credit center and 3rd quarter 2020 money budget

July 16, 2020 World Newswire

CALGARY, Alberta – Petrus Resources Ltd. (“Petrus” or perhaps the “Company”) (TSX: PRQ) is happy to announce the concurrent expansion of its 2nd lien term loan (“Term Loan”) and Revolving Credit center (“RCF”) in addition to conclusion regarding the RCF loan providers’ 2020 annual review. The Company’s board of directors in addition has authorized its quarter that is third 2020 spending plan.

2ND LIEN TERM LOAN EXTENSION Petrus has entered into an amending contract with Macquarie Bank restricted to expand the $35 million Term Loan maturity date to 31, 2021 july. The attention price from the Term Loan balance should be updated to be the Dealer that is canadian Offered (“CDOR”) plus 975 foundation points.

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