Connacher Completes First Lien Term Loan Facility and Amends Credit Facility

Connacher Completes First Lien Term Loan Facility and Amends Credit Facility 
CALGARY, May 23, 2014 /CNW/ - Connacher Oil and Gas Limited (CLL - TSX; 
"Connacher" or the "Company") announced today that it has closed the 
previously announced first lien term loan facility in an aggregate principal 
amount of US$128.4 million (equivalent of C$140 million) (the "Term Loan 
Facility"). Credit Suisse arranged a syndicate of institutional investors for 
the Term Loan Facility. Loans under the Term Loan Facility were advanced at 
99% of par and bears interest at LIBOR plus 6% (1% LIBOR floor), to be paid 
The maturity date of the Term Loan Facility will be the earlier of four years 
from closing, or 180 days prior to the earliest maturity of the Company's 
existing Senior Secured Second Lien Senior Notes (being August 1, 2018). 
The Company also received lender consent to amend and restate the existing 
senior secured revolving credit facility (the "Credit Facility") to $30 
million and extend the maturity date to December 31, 2016. 
About Connacher
Connacher is a Calgary-based in situ oil sands developer, producer and 
marketer of bitumen. The Company holds a 100 per cent interest in 
approximately 450 million barrels of proved and probable bitumen reserves and 
operates two steam assisted gravity drainage facilities located on the 
Company's Great Divide oil sands leases near Fort McMurray, Alberta.

SOURCE  Connacher Oil and Gas Limited 
Chris Bloomer Chief Executive Officer  Greg 
Pollard Chief Financial Officer  
Connacher Oil and Gas Limited Phone:(403) 538-6201 Fax:(403) 538-6225 
Suite 900, 332 - 6th Avenue SW Calgary, Alberta T2P 0B2 
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CO: Connacher Oil and Gas Limited
ST: Alberta
-0- May/23/2014 15:48 GMT
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