MEG Energy re-prices, increases and extends the maturity of its term loan
CALGARY, Feb. 25, 2013 /CNW/ - MEG Energy Corp. ("MEG") announces that in
light of favourable market conditions, it has re-priced and extended the
maturity of its existing US$987.5 million term loan. The interest rate of the
covenant-light term loan has been reduced by 25 basis points and the maturity
has been extended by two years to March 2020. In addition to re-pricing and
extending the term loan, MEG has also taken the opportunity to increase the
term loan by US$300 million on the same terms and conditions.
Barclays acted as the sole arranger and bookrunner in connection with the
MEG Energy Corp. is focused on sustainable in situ oil sands development and
production in the southern Athabasca oil sands region of Alberta, Canada. MEG
is actively developing enhanced oil recovery projects that utilize SAGD
extraction methods. MEG's common shares are listed on the Toronto Stock
Exchange under the symbol "MEG."
Investors Helen Kelly Director, Investor Relations (403) 767-6206
Media Brad Bellows Director, External Communications (403) 212-8705
SOURCE: MEG Energy Corp.
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CO: MEG Energy Corp.
-0- Feb/25/2013 20:21 GMT
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